Burnham Pacific Buys Site of Beverly Garland Hotel
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Burnham Pacific Properties said it bought the 6.09-acre site of the Beverly Garland Hotel in North Hollywood in exchange for property in San Diego valued at $1.03 million.
Burnham Pacific bought the site from Weddington Investment Partnership in Los Angeles. In exchange, Weddington received the land under a Bob’s Big Boy restaurant, along with an office building, in San Diego.
The hotel site, near the intersection of the Hollywood and Ventura freeways, is leased to the owners of the 260-room hotel: Rio Vista Development in Los Angeles, a firm headed by Filmore Crank and his wife, actress Beverly Garland; and Burnham American Properties, an affiliate of Burnham Pacific Properties. Burnham Pacific is a real estate investment trust with headquarters in San Diego. Its units are traded on the American Stock Exchange.
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