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COSTA MESA, CA-Makar Properties has acquired a Wyndham here for $42 million through an affiliate, Hansji Hotels has secured $30 million in refinancing and LaQuinta Inns has purchased a property in Santa Ana for $14 million. The deals involve hotels totaling 761 rooms.

Makar’s new asset is the 238-room Wyndham Orange County Hotel at 3350 Avenue of the Arts in Costa Mesa. Both the buyer and the seller were represented by Jordan Richman of the Grubb & Ellis Hospitality Group, who listed the property in a previous sale in April 1993.

Terms of Makar’s deal and the seller were not disclosed. However, sources indicate that the buyer paid $42 million and acquired the property from a seller based in Westlake Village.

The $30 million in refinancing for the two Hansji hotels was arranged by Neptune Hospitality Advisors of San Diego. The two properties are the 190-room Desert Palms Hotel & Suites at 631 West Katella Ave. across from the city’s convention center and the 150-room Desert Inn & Suites at 1600 S. Harbor Blvd. near Disneyland.

The financing consists of 10-year fixed rate loans totaling $30 million through a national commercial real estate lender. The two individual, non-cross collateralized loans bear interest at a rate of 5.55% on a 30-year amortization period, according to Gavin Davis of Neptune. Davis and Stan Kozlowski of Neptune, both based in San Diego, arranged the financing.

Davis calls the financing, “clearly an example of aggressive lending when two independent hotels achieve a substantially below-market interest rate of 5.55% with a 30-year amortization.” Hansji Hotels, based in Orange County, manages more than 1,000 rooms in California and Arizona, with another 500 rooms in the development pipeline.

In Dallas-based La Quinta Corp.’s Santa Ana deal, the company bought a 183-room Woolley’s Petite Suites at 2721 Hotel Terrace that was built in 1985 and has converted it to the La Quinta flag, according to Eric Lambiase and Ken Arimitsu of Grubb & Ellis. Lambiase and Arimitsu represented the buyer and the seller, Petite Suites LLC of Texas.

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