CBRE Announces Sale of Two Boutique Hotels in Carmel-by-the-Sea

CBRE announced the sale of The Hideaway and The Getaway, two boutique hotels in Carmel-by-the-Sea, to Timberlane Partners, a Seattle and Los Angeles-based real estate investment, development and asset management company. Henry Bose, Alex Lee-Bull and Elena Quach with CBRE Hotels in San Francisco represented the seller Meriwether Co., a Boulder and Los Angeles-based real estate investor and developer.

“Acquiring and renovating these two properties in an iconic destination such as Carmel-by-the-Sea has truly been a labor of love for us,” said Mike Burkart, Meriwether CFO and Partner. “It is gratifying to know these beautiful hotels will continue to flourish under new stewardship and we are grateful to our group of partners who invested alongside Meriwether in our ownership.”

Located near Carmel-by-the-Sea’s historic downtown shopping district, The Hideaway and The Getaway were built in the 1950’s and renovated in 2019. The Hideaway, located at Junipero Street and Eighth Avenue, has 24 guest rooms, lounge space and an expansive courtyard patio with a fire pit. The Getaway, located at Junipero Street and Ocean Avenue, has 34 rooms, lounge space and a courtyard patio with a fire pit. With the renovations, the properties are two of the newest hotels in the market and rank in the top five Carmel-by-the-Sea hotels on TripAdvisor.

“We are thrilled to close on the acquisition of these two special properties located in one of the premier drive-to leisure markets along the west coast. The Hideaway and Getaway will serve as an exciting addition to Timberlane’s growing portfolio of boutique, lifestyle branded hotel properties,” said Timberlane.

Carmel-by-the-Sea is just over an hour from Silicon Valley and the San Francisco Bay Area, minutes from coastal trails along Big Sur, renowned golf courses in Pebble Beach, top wine destinations in Monterey County wine country, including several tasting rooms in Carmel-by-Sea, and within walking distance to Carmel beach.

“Carmel-by-the-Sea is a fantastic Bay Area drive-to market and has been one of the most resilient lodging markets in California. Its proximity to the Bay Area has driven demand from local and international travelers and investor interest is stronger than ever,” said the San Francisco-based CBRE Hotels team of Henry Bose, Alex Lee-Bull and Elena Quach. “The small boutique landscape in Carmel contributes to the natural charm of The Hideaway and The Getaway, creating a unique experience that resonates with visitors from across the globe.”

Timberlane will continue the legacy of the previous owner’s careful stewardship to provide two of the best hotels in the Carmel-by-the-Sea market under Palisociety’s new brand Le Petit Pali, launching in California in 2023.