CIP Facilitates the Sale of Outlook Inn & Water’s Edge Suites
Crystal Investment Property, LLC (“CIP”), a member of Hotel Brokers International, announced the successful sale of the Outlook Inn and Water's Edge Suites in Eastsound, Washington.
CIP, a licensed Washington brokerage, represented the Seller in the sale of this award-winning Orcas Island property. The new investment entity includes the original owners, The Farish Family, as well as another family with deep ties in the Orcas community.
The Outlook Inn, New Leaf Cafe, and the Water's Edge Suites are now part of the prestigious Columbia Hospitality management portfolio. This transition secures its place among Pacific Northwest hospitality royalty such as Friday Harbor House, Salish Lodge & Spa, and The Inn at Langley.
Joseph P. Kennedy, President of CIP, and the CIP Team worked closely with the Buyer, Seller, and the parties’ other professionals to negotiate a mutually acceptable sale. The final sale price is confidential.
Outlook Inn is a 41-key, upscale, independent, full-service hotel centrally located in Eastsound Village on popular Orcas Island in Washington. This historic hotel includes three buildings with water views and beach access. The hotel features the New Leaf Cafe, a gourmet farm-to-table restaurant with patio seating and a full bar. In addition, the Outlook Inn provides flexible ceremony and reception spaces, gardens with a chapel, and event catering. Suites include gas fireplaces, kitchenettes, and two-person Jacuzzi tubs.
Also included in the sale was the newly developed Water's Edge Suites. These five modern luxury accommodations are the closest suites to the water’s edge in the San Juan Islands, each with stunning views of Fishing Bay, Indian Island, and beach access. All rooms are within walking distance to the heart of Eastsound Village.
Joseph P. Kennedy, President of CIP, said, “We were pleased to bring together The Farish Family with a strong investment group and to see Columbia Hospitality spearheading operations. The Outlook Inn, New Leaf Cafe, and Water's Edge Suites speak to the tradition of excellence, service, and quality that Pacific Northwest visitors have come to know and trust. A property of this caliber is a perfect fit for the Columbia Hospitality portfolio. We look forward to a long and fruitful partnership.”
About Crystal Investment Property, LLC
Crystal Investment Property, a premier hospitality investment advisory and brokerage company located in the Pacific Northwest, maintains the most cutting-edge technological, online, and social media presence as well as a full range of traditional and web-based marketing reaching local, regional, national, and international clientele. The firm’s core services of hospitality asset acquisition/disposition are supported by innovative and creative solutions to maintain its position as the most active and successful hotel broker in the region. Crystal Investment Property represents the full spectrum of hospitality real estate owners and their experience covers all hospitality asset types, including full-service hotels, boutique hotels, select-service hotels, limited-service hotels, as well as development projects, and leasehold transactions. Crystal Investment Property may be accessed online at crystalip.com.
About Hotel Brokers International
Founded in 1959, Hotel Brokers International members lead the industry in hotel real estate sales. HBI hotel brokerage specialists have successfully negotiated more than 10,000 hotel real estate transactions and consistently account for the largest share of all select-service and economy hotel sales in the United States. The organization’s database currently comprises more than 100 property listings and the HBI website attracts site visitors from around the world. HBI is the founder and administrator of the Certified Hotel Broker program – the industry’s only professional designation for Hotel Brokers. In addition to hospitality real estate advisory services, HBI offers affiliate membership to professionals in allied fields, including franchising, lending, appraisals, and investment services. For more information about HBI’s hotel listings or to become a broker or affiliate member, visit hbihotels.com.
Contact:
Teri G. Beck, Marketing Director
Crystal Investment Property, LLC
Portland, Oregon
503.530.1316
teri@crystalip.com
Glenda J. Webb, Executive Director
Hotel Brokers International
Kansas City, Missouri
816.505.4315
gwebb@hbihotels.com
