HFF closes $48.4 million sale of Embassy Suites Anaheim-Orange hotel
SAN DIEGO, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $48.4 million sale of the Embassy Suites Anaheim-Orange, a 230-key, full-service hotel in Orange, California, proximate to Angel Stadium, the Honda Center and the Disneyland® Resort.
HFF marketed the property on behalf of the seller.
The 10-story hotel completed a conversion in 2014 from a Hilton Suites to become the all-suite Embassy Suites Anaheim-Orange. It features a full-service restaurant, fitness center, business center, outdoor patio, indoor pool, heated outdoor pool with spa and more than 4,000 square feet of meeting space including the 1,890-square-foot Atrium Lounge. The hotel is located at 400 North State College Road in the city of Orange, 30 miles southeast of Los Angeles situated between Anaheim and Santa Ana. The property is within walking distance to two professional sporting venues; Angel Stadium where the Los Angeles Angels of Anaheim play and the Honda Center, home to Anaheim Ducks. Disneyland® Resort and the Anaheim Convention Center are both two miles from the hotel, and Knott’s Berry Farm is 8.5 miles north of the hotel.
The HFF investment sales team representing the seller was led by managing director Scott Hall and managing director Holden Lim.
“The Embassy Suites Anaheim-Orange is a high-quality asset, which has benefited from the seller’s timely conversion to a best-in-class flag, an exceptional physical product post-renovation, and continued local and regional market growth,” Hall said. “The underlying fundamentals for Southern California’s lodging market point to significant continued RevPAR gains moving forward. The specific submarket dynamics of Anaheim and Orange were key contributing factors to further maximizing pricing for this transaction.”
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740.