Red Jacket Resorts acquired; more transactions

Hotels in resort destinations are changing hands—including an entire Northeast portfolio—plus other deals and financing.

EOS Investors LLC acquires Red Jacket Resorts
EOS Investors LLC, a privately held real estate investment firm, has acquired Red Jacket Resorts, a portfolio of resort destinations with locations in Cape Cod, MA, and the White Mountains of New Hampshire.

“We are excited to welcome a portfolio of high-quality properties to EOS’s collection of more than 30 drive-to leisure resorts on the East Coast,” said Tom Burns, managing director, EOS Investors. “Red Jacket Resorts align with EOS’ strategy of acquiring highly differentiated assets in high barrier to entry leisure markets across the U.S. We look forward to investing in the properties, employees and guests as we build upon the legacy and success that The Davenport Companies has achieved since its founding of the Red Jacket Resorts brand.”

Red Jacket Resorts consists of more than 650 keys across six diverse lodging options. The Red Jacket Beach Resort, Blue Water Resort, Riviera Beach Resort and Green Harbor Resort have private beaches on Nantucket Sound, while Blue Rock Resort sits on the championship Blue Rock Golf Course. Red Jacket Mountain Resort is located in the White Mountains and features the 40,000 sq. ft. Kahuna Laguna Indoor Water Park.

“Red Jacket Resorts have been staples in the Cape Cod and the White Mountains for decades,” said Simon Mais, COO, EOS Hospitality. “We look forward to building upon the portfolio’s longstanding success serving guests in some of the most popular multi-season destinations in New England.”

Sanctuary Camelback Mountain Resort and Spa changes ownership
Gurney’s Resorts has revealed the acquisition of Sanctuary Camelback Mountain Resort and Spa in Paradise Valley, AZ. Scottsdale-based real estate investment company BB Hotels (formerly Berger Holdings) has partnered with New York-based Metrovest Equities and BLDG MGMT to purchase the resort. The transaction is expected to close in early November. Financial terms were not disclosed.

Robert H. Castellini has owned Sanctuary Camelback Mountain Resort and Spa since 1992 and was responsible in concert with Westroc Hospitality for transforming Sanctuary into the resort it has become. Under new ownership, the property will remain fully operational as Sanctuary Camelback Mountain, a Gurney’s Resort & Spa.

Gurney’s Resorts and BB Hotels are currently reviewing all aspects of the resort in anticipation of a comprehensive renovation and property-wide refurbishments beginning in summer 2022. The resort will remain open throughout the transition and renovation, continuing to serve as a pillar for the local community.

The acquisition marks a milestone westward expansion for the independent hospitality brand, whose current portfolio includes Gurney’s Montauk Resort & Seawater Spa in Montauk, NY.

The Sanctuary is set upon 53 acres featuring manicured grounds, gardens, pools and facilities. The property’s current offerings include a 12,000-sq.-ft. spa, fitness center, hiking trails, swimming pools, tennis courts and 109 casitas and suites, as well as eight private mountainside villas. The resort has 10,000 sq. ft. of indoor and outdoor event space, including a 250-capacity ballroom.

Dynamic City Capital acquires dual-branded Florida property
Dynamic City Capital (DCC), a Utah-based real-estate investment firm, has acquired the Residence Inn by Marriott Clearwater Beach and the Springhill Suites by Marriott Clearwater Beach in Florida. The two hotels together have 255 rooms and are located on the water’s edge overlooking Clearwater Bay.

The seven-story, dual-branded hotel has studio, one-, and two-bedroom suites; a sundeck; an outdoor pool;  7,000 sq. ft. of retail space; and a to-be-built 21-slip marina.

DCC has now completed six hotel transactions this year. In July, it completed the acquisition of the AC Hotel by Marriott Seattle Bellevue. Other 2021 acquisitions include the Element Anaheim Resort Convention Center and two San Diego/Bayside Hilton properties (the Hilton Garden Inn and Homewood Suites by Hilton).

GreenLake Funds $32.6M construction loan for Marriott portfolio
Los Angeles-based GreenLake Asset Management LLC has funded a $32.6-million construction loan for a portfolio of Marriott hotels. The properties will be a TownePlace Suites adjacent to Denver International Airport, opening in early 2023 and a Fairfield by Marriott in central Wyoming, opening in late 2022.