Pacific Hospitality Sheds Disneyland-Area Hotel
- Jan 09, 2018
Pacific Hospitality Group (PHG) has sold its Wyndham Anaheim Garden Grove hotel to Khanna Enterprises. The buyer financed the acquisition with a $39.6 million mortgage provided by East West Bank. The new owner plans to reposition the property under the Delta by Marriott flag. A Hodges Ward Elliott team led by Michael DiPrima and Diana Simpson represented the seller in the transaction.
Located at 12021 Harbor Blvd., in Garden Grove, Calif., the 376-key hotel sits just over one mile south of Disneyland in Anaheim. The building is situated in an area with numerous hotels, including a Hyatt Regency, Sheraton, Residence Inn and Homewood Suites all within a three-minute walk. Numerous restaurants and shops are also in the area. A shuttle stop on the property offers direct access to both Los Angeles International Airport and John Wayne Airport, and the building is located within two miles of Interstate 5.
Opened in 1999 as the Crowne Plaza Anaheim Resort, PHG later repositioned the hotel under the Wyndham flag in 2014. The previous owner invested upwards of $5 million in renovations and other capital improvements following the rebranding. Guest amenities include an outdoor swimming pool, fitness center, on-site parking and 36,000 square feet of meeting space.
This past summer, another Disneyland-area hotel, next door to the Wyndham, landed $21 million in financing.
Image courtesy of Hodges Ward Elliott