The purchase price doesn't include the land under the hotel, says John Strauss, the Jones Lang LaSalle Hotels broker who helped to represent both sides in the transaction. Strauss adds that the buyer, New Age Anaheim Inc., was funded by Hong Kong investors.
The seller was 1221 South Harbor Boulevard Inc., a partnership that includes several Japanese investors. The tourism business in the Anaheim Resort area is expected to boom early next year, when Walt Disney Co.'s new California Adventure theme park will open, broker Strauss says.
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