$3-5 Million | Midscale | Select-Service | 30 Keys
Representing The Seller Of This Updated Property With Leased Restaurant
[Packwood, Washington – August 2022] Crystal Investment Property, LLC (“CIP”), a member of Hotel Brokers International, announced the successful sale of the Packwood Lodge in Packwood, 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.
About Packwood Lodge
Packwood Lodge is an independent, 30-key, select-service hotel with a leased restaurant. The property includes extensive capital improvements, 21 updated guest rooms or suites, and nine detached cabins. In addition, the property features a lobby with a breakfast area, office, laundry room, Owner’s Quarters, and a hotel adjacent leased restaurant. Rooms and suites include flatscreen TVs, mini-fridges, microwaves, coffee makers, and high-speed wireless internet. Cabins, completed in 2019, feature a kitchenette, dining area, jacuzzi tub, bathroom with shower, and outdoor decking. Just 2.5 hours from Portland and Seattle metropolitan areas, the hotel is 4 miles from the Mt. Rainier National Park entrance, attracting visitors year-round.
Joseph Kennedy, President of CIP, said,
Long-term relationships with both the Seller and Buyer enabled CIP to put together a transaction swiftly upon taking the property on the market. This sale is an excellent example of how our connections lead to a successful closing for our clients. The Seller is pleased to continue to downsize their portfolio while the Buyer has been able to diversify their extensive regional holdings into a new market.”
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 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 a crystalip.com.
For more information contact:
Crystal Investment Property, LLC
The Pacific Northwest Hospitality Specialists
If you own a hotel in the Pacific Northwest and would consider offers to purchase your property, we actively seek property for Buyers in all areas and price ranges. Contact us to receive offers or to request a discreet market analysis.