Crystal Investment Property, LLC, a member of Hotel Brokers International, announced the successful sale of the Village Inn and Restaurant in Springfield, 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 the parties’ other professionals, to negotiate a mutually acceptable sale. The final sale price is confidential.
The 67 key property is ideally situated with strong freeway access and visibility and includes a casual dining restaurant and shared pool and fitness facilities. It is located just 5 miles from world renowned University of Oregon in Eugene (“Track Town USA”) home to the Oregon Ducks! The hotel offers an outstanding mix of rooms for a variety of guests as well as excellent proximity to the Downtown area, sports venues and other area attractions. The new owner intends to complete some capital improvements including a renovation of the restaurant and rooms.
Joseph Kennedy, President of Crystal Investment Property said, “This property enjoyed an extremely strong level of interest immediately upon bringing it to the market however the challenge was to determine which Buyer was best qualified to complete the transaction within the parameters required by the Seller. We had multiple competing offers and were able to secure not only the highest market price but a capable cash Buyer. The new ownership brings fresh enthusiasm to this motel and we look forward to the positive impact this will provide in the community.”