Sonnenblick-Eichner Company Arranges a Strategic Joint Venture Equity Investment For the Pacific City Lodging Portfolio, Pacific City, Oregon
LOS ANGELES, April 22, 2024 (GLOBE NEWSWIRE) -- Sonnenblick-Eichner Company has arranged a strategic joint venture equity investment into the ownership entity of the Pacific City Lodging Portfolio, located in Pacific City, Oregon. The Pacific City Lodging Portfolio is an irreplaceable collection of iconic oceanfront resort properties comprised of the Headlands Coastal Lodge & Spa, the Inn at Cape Kiwanda, Hart’s Camp, and the Cape Kiwanda RV Park. Noble House Hotels & Resorts of Kirkland, Washington provided the investment into the partnership.
This investment from Noble House allowed the existing ownership an opportunity to realize equity that they have created in the portfolio while aligning with a seasoned hospitality owner and operator dedicated to investing and growing asset value. This structure also allows ownership to continue to benefit from appreciation in value.
The Headlands Coastal Lodge & Spa offers 33 guestrooms, of which 100% are oceanfront with balconies offering full views of the Pacific Ocean and Haystack Rock. The Inn at Cape Kiwanda offers 35 guestrooms and suites with unobstructed ocean views. The Hart’s Camp and Cape Kiwanda RV Park (RV Parks) total approximately 15 acres and are located across the street from the beach. The RV Parks feature 146 pads comprised of drive-through and back-in RV parking, as well as Airstreams, cottages and cabins.
Pacific City is recognized as the premier destination on the Oregon Coast for outdoor activities and experiential leisure travel. It is also well-known for outdoor adventure activities including surfing, hiking, biking, fishing, climbing, tide pooling and boating. The area is in close proximity to several state parks and only one mile from the Nestucca River, a premier fishing and kayaking destination. Pacific City is also highly regarded for its nine miles of walkable beaches and home to Cape Kiwanda and Haystack Rock (one of the largest coastal monoliths in the world), and the Cape Kiwanda Sand Dune, a massive 240-foot sand dune.
“We generated significant buyer interest given the unique oceanfront locations in one of Oregon’s top leisure destinations. Adding to the appeal of the offering was the availability of management and franchise, as well as the strong in-place cash flow and extreme barriers to entry,” said Elliot Eichner, a Principal and Co-Founder of Sonnenblick-Eichner Company.
“We were engaged to find a buyer for the entire portfolio, but ultimately a strategic investment for the partnership gave our client the opportunity to realize future growth in the portfolio, which was a more favorable transaction for them to execute,” added Patrick Brown, also a Principal of Sonnenblick-Eichner Company.
About Sonnenblick-Eichner Company
Sonnenblick-Eichner Company (www.sonneich.com) is a Los Angeles-based real estate investment banking firm that specializes in arranging structured finance for acquisition, construction and permanent loans, interim and mezzanine financing as well as joint-venture equity transactions. The company is recognized for its expertise in marketing institutional real estate for sale and providing capital for all product types including hospitality, retail, office, industrial, and multifamily properties.
Source: Sonnenblick-Eichner Company
Media Contact: Bruce Beck - bruce@dbrpr.com (805) 777-7971
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c1114bc2-7a91-4ee4-b91c-dcf989653564
Headlands Coastal Lodge and Spa
The Headlands Coastal Lodge and Spa is part The Pacific City Lodging portfolio of oceanfront resort properties in Pacific City, OR
-
For Bond Investors, Delayed Rate Cuts Demand a Different Playbook
-
What’s Happening In the Markets This Week
-
How the Tokyo Stock Exchange Is Pushing for Better Shareholder Returns
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Where We See Opportunities After an Ugly Month for Stocks
-
After Earnings, Is Alphabet Stock a Buy, a Sell, or Fairly Valued?
-
When Will the Fed Start Cutting Interest Rates?
-
What’s the Difference Between the CPI and PCE Indexes?
-
10 Questions for Berkshire Hathaway’s 2024 Annual Meeting
-
After Earnings, Is Ford Stock a Buy, a Sell, or Fairly Valued?
-
3 Dividend Stocks for May 2024
-
Amgen Earnings: Obesity Drug Update Is Highly Encouraging
-
What’s Going on With Apple, Tesla, and Alphabet?
-
Apple Earnings: A Weak 2024, but Optimism for 2025
-
4 Utility Stocks to Play the AI Data Center Boom
-
Albemarle Earnings: We Expect Improved Results In the Rest of Year Following Cyclically Low Profits