Fairfield Communities Buys Time-Share Resort in Anaheim

Fairfield Communities Inc., a Florida time-share resort company, took advantage of the expansion of the Anaheim Convention Center and the Disneyland Resort by acquiring a 136-unit time-share resort near the park. The Orlando company said it bought Dolphin’s Cove Resort for an undisclosed sum along with the rights to develop an additional Southern California resort with 150 units at an undisclosed oceanfront location. The resort, an affiliate of Winner’s Circle Resorts International Inc., is adjacent to the Disneyland Resort, where Walt Disney Co.’s California Adventure theme park is scheduled to open next month, along with its Grand Californian luxury hotel. The Downtown Disney retail, dining and entertainment district opens Friday. The purchase adds to Fairfield’s expansion in the West, where it has opened or started construction on six additional properties, including Harbortown Point in Ventura County. In November, Fairfield agreed to be acquired for $635 million in cash and stock by Cendant Corp., the New York franchising giant. Cendant also is the parent company of the Coldwell Banker and Century 21 real estate brokerages, two of the largest in Orange and Los Angeles counties. Cendant’s acquisition of Fairfield is expected to close later this year. Fairfield’s shares, traded on the New York Stock Exchange, closed unchanged at $14.31.