HFF closes sale of and arranges $55 million financing for Hilton-branded hotel in Irvine, California
SAN DIEGO, CA – September 7, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and arranged $55 million in acquisition financing for the Hilton Irvine/Orange County Airport, a 306-room, full-service, Hilton hotel in Orange County’s business and retail district in Irvine, California.
HFF marketed the property on behalf of the seller, DiNapoli Capital Partners. Infinity Realty Advisors purchased the asset free and clear of existing debt. Additionally, working on behalf of the new owners, HFF placed the 10-year, fixed-rate acquisition loan with Goldman Sachs Mortgage Company. HFF will service the loan.
Hilton Irvine/Orange County Airport features 32,188 square feet of indoor/outdoor function space, a fully-equipped fitness center, business kiosk, heated outdoor pool, whirlpool, gift shop, 414 parking stalls and the full-service Aura Bar & Grill restaurant. The 10-story hotel recently underwent an extensive renovation that modernized indoor and outdoor spaces, including updating guest rooms, expanding the room count from 302 to 306, updating corridors and meeting spaces and redesigning the courtyard. Situated on 6.63 acres at 18800 MacArthur Boulevard, the hotel is across the street from the recently-expanded John Wayne International Airport. The hotel’s location near the intersection of Interstate 405 and MacArthur Boulevard provides easy access to more than 53 million square feet of office space and the Anaheim/Orange County Convention Center, the largest convention center on the West Coast, in addition to entertainment destinations, including Disneyland, Irvine Spectrum Center, Knott’s Berry Farm and several professional sports venues.
The HFF investment sales team representing the seller was led by managing directors Scott Hall, James Escarzega and Tony Malk.
The HFF debt placement team representing the new owner was led by managing director James Fowler.
“The Hilton Irvine is a high-quality asset that has benefited from strong performance growth associated with recent strategic capital improvements,” Hall said. “The underlying fundamentals for Southern California’s lodging market, specifically the submarket dynamics of Irvine, were key contributing factors to maximizing pricing for this transaction.”
About DiNapoli Capital Partners
DiNapoli Capital Partners (DCP) is a privately held real estate investment firm engaged in the acquisition, development and management of hotels, multi-family, office and senior housing assets. For more information on DCP, visit www.dinapolicapital.com.
About Infinity Realty Advisors
Infinity Realty Advisors is a full service real estate company that specializes in developing real estate opportunities in the United States for investors. With a combination of experienced management and proven track records, Infinity Realty Advisors has delivered excellent returns to its investment partners. Infinity Realty Advisors offers its investment partners a complete end-to-end solution in real estate through acquisition advisory, asset management, syndication, debt placement and equity placement services. Learn more at www.advisorsinfinity.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 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.