Central OR Resort Trades for $12M
- Feb 15, 2018
A partnership between Northview Hotel Group and Oaktree Capital Management has sold the Eagle Crest Resort, a Holiday Inn resort in Redland, Ore., to KDG Capital. The sale price was $12 million, according to Deschutes County records. The acquisition was financed with an $11.3 million mortgage held by Bank of America. A HFF team led by Scott Hall and Tony Malk marketed the property for sale and represented the seller in the deal.
Located at 1522 S.W. Cline Falls Road, the 100-key property is situated on 1,700 acres of land within two miles of the McKenzie Highway, providing convenient access into the town of Redmond, six miles down the road. The asset, constructed in 1985, features more than 11,500 square feet of conference and meeting space along with five restaurants offering a variety of cuisines. The previous owner completed renovation work in 2014. Guest amenities include five swimming pools, three 18-hole golf courses, 14 miles of paved trails, three recreation facilities and two covered pavilions.
“Eagle Crest is a unique year-round resort and residential master plan with a longstanding reputation as one of Central Oregon’s best-amenitized communities,” said Hall, a managing director with HFF, in a prepared statement. “The quality of the asset, opportunities for value-enhancing capital initiatives and the region’s strong underlying fundamentals combine to create a highly attractive long-term investment.”
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