REAL ESTATE
<i> Times Staff and Wire Reports</i>
Orange County Resorts Changing Hands: The 350-room Dana Point Resort is in escrow with Cigna Investments Inc. of Philadelphia for about $40 million, less than half the $106 million that Japanese investors paid for the hotel in 1989, brokers said. It is being sold by Tokyo Masuiwaya Corp., a Japanese firm that bought the hotel at the height of the market. Separately, Resolution Trust Corp. has sold the 410-room Hyatt Newporter Hotel to WestCoast Hotels, a Seattle company, for $7.1 million, brokers said. The RTC had controlled the hotel since seizing Beverly Hills-based Columbia Savings & Loan in 1991. Columbia paid $26 million for the hotel in 1985.
