Crystal Investment Property, LLC, a member of Hotel Brokers International, announced the successful sale of the Edgecliff Motel in Lincoln City, Oregon. Crystal Investment Property, LLC, a licensed Oregon broker, exclusively represented the Seller in the sale. Joseph P. Kennedy, President of CIP, worked closely with the Seller, Buyer and Buyer’s Broker as well as attorneys and lenders, to negotiate a mutually acceptable sale. The final sale price was $1,650,000. The Buyer is immediately implementing extensive upgrades to the property of close to $1 million.
The 54-key property sits on a bluff that overlooks the Pacific Ocean at 3733 Highway 101 in Lincoln City, Oregon. The hotel offers excellent proximity to the South end of Lincoln City on the beautiful Central Oregon Coast approximately one mile south of the 63 store Tanger Outlet Mall.
Joseph Kennedy, President of Crystal Investment Property said, “We were pleased to be able to overcome hurdles in what was a very complex purchase structure in order to close the sale for the Seller. The Buyer is beginning a comprehensive remodel and we look forward to the positive improvements this revitalized property with bring to the hospitality marketplace in Lincoln City.”
Crystal Investment Property, a premiere 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 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 assets 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 www.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 more than 55,000 monthly site visitors. Founder and host of the popular Hotel Investor’s Marketplace Webcast, HBI also developed the Certified Hotel Broker professional designation program. 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 www.hbihotels.com.
For more information contact:
Joseph P. Kennedy, President
Crystal Investment Property, LLC
Glenda J. Webb, Managing Director
Hotel Brokers International
Kansas City, Missouri
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