Pacific Hospitality Group in Irvine is spending $12 million to update its DoubleTree by Hilton Santa Ana, not far from John Wayne Airport and South Coast Plaza.
The hotel 201 East MacArthur Blvd. will remain open during the project, PHG said.
The lobby, front desk, restaurant and bar and all 253 guest rooms will get a “sleek and modern feel,” the company said.
The hotel fitness center is getting update, too, and a new yoga studio is being added.
Aaron Saliba, general manager of the DoubleTree, said the updates should be complete by spring 2024.
Surf City apartments sell for $7 million
The 21-unit Tropicana Apartments in Huntington Beach sold for $7 million cash or $337,714 per unit, according to CBRE in Newport Beach.
The brokerage said the sale was the largest apartment transaction in downtown Huntington Beach in at least 10 years.
The sellers and buyers were listed as LLCs in property documents. CBRE said both are based in Surf City.
The 60-year-old four-building complex is about one block from the beach at 201 10th St. In about 10,000 square feet of rentable space, the buildings include a mix of one- and two-bedroom floor plans with ocean views in some units.
CBRE noted that the 10th Street property was its 18th multifamily sale in the city in the past 36 months. The brokerage and others have seen a flurry of activity in the small apartment building market. We’ve noted a multitude of such deals in recent months as buyers execute 1031 tax deferred exchanges.
In early October, CBRE negotiated two sales for small apartment complexes nearly 60 years old in Anaheim. Both sold to different buyers for a combined $5.5 million. Also in October, a 16-unit apartment complex in Anaheim sold for $4.2 million, according to Cushman & Wakefield.
In late summer, a 12-unit apartment complex with a retail space in Costa Mesa sold for $3.2 million. The brokerage said it has closed at least seven multifamily property sales in Costa Mesa in the past 18 months….
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