X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ORANGE COUNTY, CA-A Los Angeles-based hotel operator has paid more than $8 million for the Holiday Inn at the Park, a 258-room facility in the Anaheim Resort area.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.