Sonnenblick-Eichner Arranges Equity Investment for Pacific City Lodging Portfolio
LOS ANGELES, California—Sonnenblick-Eichner Firm has arranged a strategic joint project equity funding into the ownership entity of the Pacific City Lodging portfolio, located in Pacific City, Oregon. The Pacific City Lodging portfolio is a chain of oceanfront resort properties made from the Headlands Coastal Lodge & Spa, the Inn at Cape Kiwanda, Hart’s Camp, and the Cape Kiwanda RV Park. Noble House Resorts & Resorts of Kirkland, Washington, provided the funding into the partnership.
This funding from Noble House allowed the present ownership a possibility to be aware equity that they’ve created within the portfolio while aligning with a hospitality proprietor and operator dedicated to investing and rising asset worth. This constructing also enables ownership to continue to private the lend a hand of appreciation in worth.
The Headlands Coastal Lodge & Spa provides 33 guestrooms of which all are oceanfront with balconies. The Inn at Cape Kiwanda provides 35 guestrooms and suites. The Hart’s Camp and Cape Kiwanda RV Park (RV Parks) total roughly 15 acres and will be found sooner or later of the boulevard from the seashore. The RV Parks unbiased 146 pads made from the flexibility-by and wait on-in RV parking, as effectively as Airstreams, cottages, and cabins.
Pacific City is identified for exterior activities and experiential leisure trudge, collectively with surfing, hiking, biking, fishing, mountain climbing, tide pooling, and boating. The region is advance various utter parks and most efficient one mile from the Nestucca River, a fishing and kayaking destination. Pacific City will be regarded for its 9 miles of walkable seashores and is dwelling to Cape Kiwanda, Haystack Rock, and the Cape Kiwanda Sand Dune.
“We generated fundamental purchaser pastime given the outlandish oceanfront areas in thought to be one of Oregon’s high leisure locations. Adding to the enchantment of the providing became as soon as the offer of management and franchise, as effectively because the sturdy in-utter cash float and unsuitable barriers to entry,” said Elliot Eichner, a major and co-founder of Sonnenblick-Eichner Firm.
“We had been engaged to search out a purchaser for the whole portfolio, however within the atomize a strategic funding for the partnership gave our consumer the opportunity to be aware future express within the portfolio, which became as soon as a more favorable transaction for them to total,” added Patrick Brown, a major of Sonnenblick-Eichner Firm.
