California + Orange County + Hospitality | August 3, 2023

Anaheim Hotel Near Disneyland Trades to Sunstone Development

The Mogharebi Group has arranged the sale of the 60-year-old Budget Inn, a 24-key limited-service hotel located at 1042 Ball Rd. in Anaheim. The buyer was local private investor Sunstone Development, which intends to explore long-term alternative strategies for the site including full-service hotel uses.

The off-market transaction completes Sunstone’s 1.1-acre land assemblage at the gateway to the Disneyland Park that included the purchase of the adjacent 44-key Days Inn by Wyndham last year. Sunstone recognized that the combination of these properties was more valuable than the sum of its parts, according to Mogharebi EVP Otto Ozen, who along with SVP Brian Nakamura advised the Orange County-based buyer on both transactions.

“The economic environment notwithstanding, we had to navigate through a very difficult and complicated process which included approaching a long-term property owner with no intention to sell,” said Ozen.

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Mogharebi Group's Ozen

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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