Dallas Firm Slates Hotel in Laguna Area
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DB Hotel Corp., Dallas, has purchased a five-acre site in Laguna Hills and has announced plans to construct a 300-room luxury hotel and a 75,000-square-foot shopping mall beginning early next year.
The seller in the $5.6-million transaction for the land at El Toro Road and Avenue de la Carlota was Home Federal Savings & Loan Assn., San Diego. The sale was negotiated by the Newport Beach office of Norris, Beggs & Simpson.
“After conducting research on the proposed site, we concluded that South Orange County businesses and residential communities were in need of guest accommodations,” said William D. Balsiger, co-owner of DB Hotel Corp.
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