Developer buys Wyndham Hotel

A Newport Beach developer has purchased a Costa Mesa hotel with plans to remodel and relaunch the South Coast Metro facility.

Makar Properties announced last week that it had acquired the Wyndham Orange County Hotel for an undisclosed amount. The hotel, located just blocks away from South Coast Plaza and the Orange County Performing Arts Center on the Avenue of the Arts, was first built in 1984 and contains 238 guestrooms with 35 suites.

Under a deal with the hotel, Makar will own the property while Wyndham continues operating the hotel, which includes 6,800 feet of meeting space and the 140-seat Terra Nova restaurant.

Makar officials were vague on the deal and would not release the sale price, but real estate website GlobeSt.com pinned the purchase at $42 million.

A news release quoted Makar president Paul Makarechian saying his firm planned to “redesign and relaunch” the 22-year-old hotel.

“That’s all they’re ready to say right now,” publicist Kristen Chin said.

Makar owns a number of hotel properties in Orange County, including the 172-acre St. Regis Monarch Beach Resort and Spa in Dana Point and is building 18 luxury villas near the hotel. Makar is also overseeing the development of a 31-acre mixed- use community in downtown Huntington Beach that will include a luxury hotel, restaurants and condos. Makar also developed the La Jolla Commons in San Diego county and the Ritz Plaza Hotel in South Beach, Fla.