Waterton, a Chicago-based national real estate investor and operator, has partnered with Argosy Real Estate Partners to acquire the Houndstooth Inn, a 13-key independent bed and breakfast on a 17-acre Opportunity Zone site in Oakhurst. Located near the main gate to Yosemite National Park, the site will be redeveloped into Outbound Yosemite Resort – an outdoor-inspired lifestyle select service hotel featuring 135 keys.
Matt Mering EVP of hospitality at Waterton noted that “the sprawling site provides ample opportunity for creating an exceptional product tailored for lifestyle travelers”. He added that it is “an exciting opportunity to acquire development potential along with existing hotel assets which can benefit from renovation and expansion of key count as well as addition of curated amenities”.
Simultaneously Bayview PACE said it furnished $19.8 million Commercial PACE financing for this project; Jason Clouet from Coral Gables FL based Bayview PACE expressed excitement about providing C-Pace financing which supports business objectives of great sponsors like Waterton & Argosy
