For immediate release
Crystal Investment Property, LLC (“CIP”), a member of Hotel Brokers International, announced the successful sale of this confidential four-hotel portfolio. The portfolio includes Cowlitz River Lodge and Crest Trail Lodge in Packwood, Washington, Mill Village Motel in Eatonville, Washington, and Nisqually Lodge in Ashford, Washington.
CIP, a licensed Washington brokerage, represented the Seller in the sale. Joseph P. Kennedy, President of CIP, and the CIP Team worked closely with the Buyer and Seller and the parties’ other professionals to negotiate a mutually acceptable sale. The final sale price is confidential.
All four properties in the portfolio are independent, midscale hotels, each with 25-32 keys. Cowlitz River Lodge, Nisqually Lodge, and Crest Trail Lodge feature large lounges, stonework fireplaces, and unpretentious guest amenities throughout the properties. Mill Village Motel is the only exterior corridor property and includes a business center, guest library, and meeting/event space for guests.
Located in the foothills of Mt. Rainier, they draw from both the Seattle and Tacoma metro areas. Proximity to Mt. Rainier, White Pass Ski Resort, Mt. Saint Helens, and Packwood Lake make these properties a year-round adventure destination.
Joseph Kennedy, President of CIP, said, “With a strict requirement for confidentiality, this portfolio sale needed to be presented selectively to the optimal investors for this collection of properties. CIP worked with long-term clients to identify this as the perfect opportunity for them to move into a new area in a big way. As a result, the Sellers can step back while knowing the Buyer will build on their legacy, seamlessly stepping into the operations moving forward.”
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 hospitality asset acquisition/disposition services are supported by innovative and creative solutions to maintain its position as the region’s most active and successful hotel broker. Crystal Investment Property represents the full spectrum of hospitality real estate owners. Their experience covers all hospitality asset types, including full-service hotels, boutique hotels, select-service hotels, limited-service hotels, development projects, and leasehold transactions. Visit Crystal Investment Property online at crystalip.com.
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.
Crystal Investment Property, LLC
Portland, Oregon
503.530.1316
marketing@crystalip.com
Hotel Brokers International
Kansas City, Missouri
816.505.4315
gwebb@hbihotels.com
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