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.

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