Rod Apodaca Apodaca: “The hotel market has been extremely aggressive for Orange County and all of Southern California.”

SANTA ANA, CA—There’s not a lot of hotel product out there, and when it does come up, it gets chased pretty aggressively, driving cap rates down for top-shelf, select-service hotels, CBRE Hotels SVP Rod Apodaca tells As we recently reported, Apodaca and Bob Kaplan arranged the sale of the 121-room Hampton Inn & Suites Santa Ana/Orange County Airport for an undisclosed amount to a private investor, acting as exclusive agents for the seller, Pacifica Hiorange LP.