California Holiday Inn Express sells for $29M

Scottsdale, Ariz.-based Glacier House Hotels has sold the 161-key Holiday Inn Express & Suites Orange County-Santa Ana (Calif.) to Heritage Hotel Group for $29.5 million. 

Opened in 2018, the Holiday Inn Express & Suites Santa Ana is a 10-story hotel in Orange County. The hotel has access to regional Southern California demand drivers and national attractions including Disneyland, Knott’s Berry Farm, Universal Studios Hollywood, Legoland California and SeaWorld San Diego.

Berkadia Managing Director Scott Hall and senior directors Spencer Scott and Aaron Lapping of Berkadia Hotels & Hospitality led the transaction on behalf of the seller. The deal closed Feb. 23. “It has been a pleasure to partner with developer Glacier House Hotels on a strategic divestment of their Western U.S. hotel portfolio,” Scott said in a statement. “Glacier’s final two hotels are located in Petaluma, Calif., and Lewisville, Texas, outside of Dallas.”