X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN DIEGO-An affiliate of Costa Mesa-based Tarsadia Hotels has bought a 5.36-acre site on Hotel Circle South where it plans to build a luxury extended-stay hotel.

The affiliate, Hotel Circle Partners LLC, bought the land for $3.85 million from Meditrust Cos. Joe Pinson of Lodging Real Estate represented the buyer, while Rob Miller of the San Diego office of Grubb & Ellis Co. represented the seller.

Tarsadia Hotels is paying several hundred million dollars for the privilege of riding Disney’s coattails.

The fast-growing Tarsadia is on track to control roughly 3,500 rooms by 2001. It is particularly active in Anaheim, where it has become the largest hotel owner in the Disneyland area, paying $75.2 million in 1999 for the 1,033-room Anaheim Marriott, across Katella Avenue from the theme park.

Also last year, the firm paid an undisclosed sum for the 397-room Hyatt Regency Alicante in nearby Garden Grove. The company is hedging its bets in Orange County on the $1.4 billion California Adventure, the newest Disneyland attraction, scheduled to open next year.

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?

Dig Deeper

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.