 ATLANTA,
Georgia, May 20, 2005 - Thompson Calhoun Fair, LLC, an Atlanta-based
hotel real estate firm, and Maxim Hotel Brokerage of Newport Beach, California,
announced today that they advised an undisclosed New York investment bank
in the disposition of the Hawthorn Suites in Orange (Anaheim), California.
The Hawthorn Suites is a 142-key hotel situated on an approximate 2.5-acre
parcel of land, adjacent to the 375,000-square foot office building known
as Orange City Square. The hotel was constructed in 1988 as a Woodfin Suites
and was converted to a Hawthorn Suites in 1998. The hotel is brick construction,
comprised of one, three-story, exterior corridor building. Featured amenities
of the hotel include a heated outdoor swimming pool and whirlpool, a sundry
shop, a breakfast/reception room, a guest laundry facility, a fully-equipped
business center and approximately 1,900 square feet of meeting space. The
property was sold to Orange Hospitality Group, LLC and Lost Hill Motel
Investments, LLC for an undisclosed amount.
Al Calhoun, a principal of Thompson Calhoun Fair stated, "We particularly enjoyed advising the Seller on this transaction because we had the opportunity to represent an east coast owner on a west coast located asset. Thompson Calhoun Fair and Maxim Hotels had the opportunity to work together to give the property national exposure while also delivering local market expertise." Jack Carr, a principal of Maxim Hotel Brokerage stated, "This hotel
represented an excellent opportunity for this California based buyer to
renovate and take a more hands on approach to management. Their intent
is to retain the Hawthorn Suites franchise and continue to ride the improving
Orange County hotel market."
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