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2/13/18
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KDG Capital has acquired Eagle Crest Resort, a 100-room destination resort hotel in Central Oregon’s high desert, in the greater Bend-area community of Redmond.The property was sold by a partnership between Northview Hotel Group and funds managed by Oaktree Capital Management L.P. (“Oaktree”).
KDG Capital purchased the hotel free and clear of existing debt and unencumbered of a management contract. The price was not immediately given out.
Situated on more than 1,700 acres between the Willamette National Forest and the Deschutes River at 1522 Cline Falls Rd, Eagle Crest Resort has sweeping views of the Cascade and Blue Mountains and the Oregon high desert. The year-round resort is eight miles from the Redmond Municipal Airport, which provides non-stop service to most major Western U.S. markets.
Eagle Crest features three golf courses, three sports centers, a full-service spa, a conference center, an equestrian center and an abundance of outdoor activities, including biking, fishing, hiking, skiing, rock climbing and snowshoe tours. Originally built in 1985, the hotel has undergone upgrades and renovations as recently as 2014.
Scott Hall, Tony Malk, Aaron Lapping and Nick Kassab with HFF represented the seller in the transaction.
“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,” Hall said. “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 thesis.”
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