|
9/08/16
|
Infinity Realty Advisors purchased the Hilton Irvine/Orange County Airport, a 306-room, full-service Hilton hotel in Irvine. The asset was acquired from DiNapoli Capital Partners free and clear of debt.
Hilton Irvine/Orange County Airport features 32.2k sf 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 Blvd, the hotel is across the street from the recently-expanded John Wayne International Airport. The hotel’s location near the intersection of the 405 Fwy and MacArthur Blvd provides easy access to more than 53 msf 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.
HFF’s Scott Hall, James Escarzega and Tony Malk represented the seller in the transaction. HFF’s James Fowler arranged the 10-year, fixed-rate acquisition loan with Goldman Sachs Mortgage Company. HFF will service the loan.
“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.”
|
|
Return to the Archive page
|
|
|
|
|