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Two Anaheim Hotels Fetch $303M in Sale to Utah Investor
Newport Beach-based T2 Hospitality sold two Anaheim hotels to Dynamic City Capital, a real estate investment firm headquartered in Provo, UT. The Orange County Business Journal reported that Dynamic City paid $303 million to acquire SpringHill Suites at 1801 S. Harbor Blvd. and Residence Inn at 640 W. Katella Ave.
Both properties are located near the Disneyland Resort and Anaheim Convention Center, an area that has numerous hotel properties along Harbor Boulevard and Katella Avenue. They join the nearby Anaheim Portofino Inn & Suites in Dynamic Capital’s portfolio.
The Residence Inn property opened in August 2016 and has 294 rooms in a nine-floor, 202,759-square-foot building. SpringHill Suites made its debut in October 2014 with 174 rooms across five floors and nearly 122,500 square feet.
Dynamic City, whose managing partner is Joel Sybrowsky, invests across the western U.S. in asset classes including hospitality, multifamily, self-storage and retail, the Business Journal reported.
- ◦Sale/Acquisition
