More hospitality space is trading in Orange County. Aliso Viejo-based Sunstone Development LLC has recently acquired a pair of neighboring hotels in close proximity to the Disneyland Resort in Anaheim.
The investment firm executed two transactions, culminating in the acquisition of a combined 1.1-acre plot, the Orange County Business Journal reported. The plot encompasses the 44-room Days Inn by Wyndham, situated at 1030 W. Ball Road, and the adjacent 24-room Budget Inn, located at 1042 W. Ball Road. The firm paid a total of $20.6 million for both hotel sites.
The first deal, involving the former property, was acquired for $8.6 million, or approximately $195,500 per key. The second property was acquired for $12 million, or about $500,000 per room.
The properties offer various amenities, including breakfast, parking and more. The properties are also within close proximity of various offsite amenities. In addition to Disneyland, the properties are near the Anaheim Convention Center and various retail assets. The hotels are also located near Interstate 5, providing easy access to the rest of Orange County.
Sunstone Development, LLC, founded in 2021 by Blake Wettengel and Tanya Muro. The company boasts a cumulative portfolio value that surpasses $3 billion in real estate investments and development spanning diverse asset classes.
