Trigild and Blu Hotel Investors Announce Santa Ana Hotel Acquisition
Trigild to Take Over as Property Manager and Assist in $1 Million Renovation.
- (1888PressRelease) March 16, 2013 - SAN DIEGO - San Diego-based Trigild, Blu Hotel Investors and Pacifica Real Estate Group (PREG) have announced the acquisition of the four-story, 121-room Santa Ana Hampton Inn & Suites at 2720 Hotel Terrace Dr. in Santa Ana.
Trigild, a real estate services firm with decades of experience in the hospitality industry, will take charge of day-to-day management, overseeing over 40 employees and spearheading $1 million in renovations and improvements to the property.
"This is an excellent opportunity as the hotel meets our overall criteria of investing in high barrier to entry markets with premium brands," said Michael Barnard, founder and principal of Blu Hotel Investors. "The hotel is ideal for both business and leisure travelers and represents a very stable investment, with tremendous upside potential especially given its prime Orange County location."
According to John Beazley, Trigild's managing director of hospitality, this new acquisition is the first joint project of a recently formed alliance which combines Trigild's strong operational background with Blu Hotels' lodging investment expertise and PREG's real estate experience and financial strength. "Working together on this deal enables the companies to share resources, services and specialties and positions us jointly to develop, acquire and operate hotel properties with institutional or individual investors," Beazley explained.
Built in 1992, the hotel is situated on 1.45 acres near South Coast Plaza and John Wayne International Airport.
It houses a 600-square-foot breakfast room, 400 square feet of meeting space, a fitness room and outdoor swimming pool and spa. Guest rooms are all suites and span approximately 400 square feet. The hotel will continue operations under the current Hampton franchise agreement. Recognized in the industry for its high quality, the Hampton brand, with more than 1,800 locations worldwide, benefits tremendously from its affiliation with Hilton.
The extensive refurbishment - encompassing the hotel exterior, lobby, meeting space, breakfast room, guest rooms, guest bathrooms and outdoor pool area - will further the hotel's appeal and potential. "The renovation, slated to be completed by the end of this year, will position the hotel to compete with newer, upscale hotels in the region," Beazley said.
About Trigild
Headquartered in San Diego with regional offices throughout the country, Trigild has more than 37 years of hotel management, receivership/bankruptcy and consulting expertise, with a focus on managing and maximizing value for assets in an array of industries, including hospitality, multifamily, office, industrial, retail, petroleum properties and more. For further information, visit www.trigild.com.
About Blu Hotel Investors
Based in Santa Barbara, Blu Hotel Investors is a multi-disciplinary adviser and hotel company with extensive expertise in ground-up development, acquisition, management and asset management of distinctive Southern California hotel properties. For further information, visit www.bluhotelinvestors.com.
About Pacifica Real Estate Group (PREG)
Established in Santa Barbara, California in 1969 as a real estate and development company, Pacifica's reputation as an innovative, client-focused investment partner grew quickly - as did their market knowledge, and their instinct for identifying opportunities in an ever-changing and always-challenging economic environment. For further information, visit www.pacificarealestate.com.
Media Contact:
Sydnie Moore (619) 823-8448 moore2com ( @ ) gmail dot com
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