Two Lake Forest hotels targeting business travelers recently traded hands as part of a larger portfolio deal.
Arbor Lodging Partners, a Chicago-based hotel buyer and manager, acquired Hampton Inn Irvine/East Lake Forest and Hilton Garden Inn Irvine East/Lake Forest, a pair of hotels just north of the 241 Toll Road
The duo totals 187 rooms and are located in the same complex along Lake Forest Drive, not far from the headquarters of Oakley Inc.
The hotels are two of 12 recently acquired by Arbor, in a deal announced earlier this month. They include:
• The Hampton Inn, an 84-room hotel at 27102 Towne Centre Drive in Foothill Ranch.
• The 103-room Hilton Garden Inn at 27082 Towne Centre Drive.
Prices have not been disclosed
First in OC
New York-based Blackstone Group sold the hotel portfolio to Arbor, which said it is planning renovations at each and will manage both.
The hotel sale is unrelated to Blackstone’s industrial portfolio sale to Newport Beach’s BKM Capital Partners (see item, this page).
Arbor now owns 37 U.S. hotels. The two Lake Forest hotels are its only properties in Orange County; its nearest holding is in Arcadia, according to the company’s website.
“We are thrilled to have added 12 diverse and unique properties with industry-leading franchise affiliations to our portfolio in several key markets,” said Vamsi Bonthala, chief executive at Arbor Lodging.
“Consistent with our strategic investment plans, we are pleased to invest in high-performing hotel markets, while concurrently continuing our own growth as an influential hotel investment and management firm.”
