The developer of Anaheim’s soon-to-open Cambria Hotel & Suites near Disneyland has quietly sold off its interest in a nearby hotel it built four years ago.
Property records show Santa Ana-based Nexus Cos. near the start of the summer completed a transaction that saw the privately held firm sell off its 50% interest in the Anaheim Homewood Suites, a 215-room property along Harbor Boulevard, across the street from the Anaheim Convention Center.
The firm sold its interest in the project to Orange’s Prospera Hotels for about $36.6 million; Prospera already owned the other 50% interest in the four-story property, which sits next to a massive surface parking area used for the convention center and the Disneyland Resort.
Prospera’s other properties in the vicinity include some of the area’s newer hotels, including the nearby Hyatt House at the corner of Harbor and Katella Avenue and a Hampton Inn & Suites in the city’s resort area.
It’s also developing with Anaheim-based O’Connell Hotel Group the JW Marriott, a 466-room, 12-story hotel next to the Gardenwalk shopping center. The estimated $150 million project is expected to open next year.
The deal with Nexus values the Homewood Suites at nearly $340,000 per room.
It opened four years ago and offers one-bedroom, two-bedroom and studio suites. Amenities include a pool with water slides, Jacuzzi, kids’ Splash Fountain, sport court, wading pool, and an outdoor movie wall, according to Nexus.
More waterpark-type features are planned at the Cambria Hotel, a 12-story, 350-room hotel finishing up work along Katella Avenue.
Features include a 30,000-square-foot waterpark “with multiple water slides, pop-up jets, splash pads, [and] kiddie pool,” according to the Nexus’ website, which is also a developer of the Vivante senior living project in Costa Mesa; a similar upscale project is in the works near Fashion Island in Newport Beach.
The hotel’s website indicates the Cambria will open next month.