 |
| Hilton Irvine/Orange County Airport, 18800 MacArthur Boulevard, Irvine, CA |
 |
| Scott Hall |
SAN DIEGO, CA –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged
$55 million in acquisition financing for the Hilton Irvine/Orange County Airport, a 306-room, full-service,
Hilton hotel in Orange County’s business and retail district in Irvine,
California.
HFF marketed the property
on behalf of the seller, DiNapoli Capital Partners. Infinity Realty Advisors purchased the asset
free and clear of existing debt.
Additionally, working on behalf of the new owners, HFF placed the
10-year, fixed-rate acquisition loan with Goldman Sachs Mortgage Company. HFF will service the loan.
Hilton Irvine/Orange
County Airport features 32,188 square feet of indoor/outdoor function space, a
fully-equipped fitness center, business kiosk, heated outdoor pool, whirlpool,
gift shop, 414 parking stalls and the full-service Aura Bar & Grill
restaurant.
The 10-story hotel
recently underwent an extensive renovation that modernized indoor and outdoor
spaces, including updating guest rooms, expanding the room count from 302 to
306, updating corridors and meeting spaces and redesigning the courtyard.
Situated on 6.63 acres at
18800 MacArthur Boulevard, the hotel is across the street from the
recently-expanded John Wayne International Airport.
 |
| James Escarzaga |
The hotel’s location near
the intersection of Interstate 405 and MacArthur Boulevard provides easy access
to more than 53 million square feet of office space and the Anaheim/Orange
County Convention Center, the largest convention center on the West Coast, in
addition to entertainment destinations, including Disneyland, Irvine Spectrum
Center, Knott’s Berry Farm and several professional sports venues.
The HFF investment sales
team representing the seller was led by managing directors Scott Hall, James Escarzega and Tony Malk.
The HFF debt placement
team representing the new owner was led by managing director James Fowler.
“The Hilton Irvine is a
high-quality asset that has benefited from strong performance growth associated
with recent strategic capital improvements,” Hall said. “The underlying
fundamentals for Southern California’s lodging market, specifically the
submarket dynamics of Irvine, were key contributing factors to maximizing
pricing for this transaction.”
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Director, Marketing
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
No comments:
Post a Comment