Downtown Sacramento's historic Citizen Hotel changes hands in acquisition deal

Jul. 29--The Citizen Hotel, located in downtown Sacramento near the California State Capitol, has been bought by a Miami-based hospitality investment company.

Cambridge Landmark announced in a news release Monday it had closed on a sale of the historic hotel, purchasing it from Los Angeles firm Platinum Equity for an undisclosed amount.

"This acquisition demonstrates Cambridge Landmark's focus on ownership-driven hotel investment with assets in prime U.S. domestic markets," Pedro Miranda, a co-managing partner at Cambridge Landmark, said in a prepared statement.

The nearly 200-room, 14-story boutique hotel was built in the 1920s and was once the site of the California-Western States Life Insurance Company.

"This historic property in downtown Sacramento continues the growth of our portfolio," Joao Woiler, another Cambridge Landmark co-managing partner, said in a prepared statement.

The Citizen Hotel will remain branded through the Marriott Autograph Collection, according to the release. The Citizen is the home of Grange Restaurant and Bar, which recently earned a Michelin plate.

The hotel embraces its vicinity to the Capitol building, with an abundance of political cartoons and a handful of tongue-in-cheek special packages.