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 of Yosemite National Park, this site will be redeveloped into Outbound Yosemite Resort – an outdoor inspired lifestyle select service hotel boasting 135 keys.
Matt Mering, Executive Vice President of Hospitality at Waterton commented: “The sprawling site provides ample opportunity to create an innovative product for the lifestyle traveler. It’s an exciting chance to acquire a development property with existing hotel assets that can benefit from renovation – expanding key count while adding various curated amenities.”
Simultaneously Bayview PACE furnished $19.8 million Commercial PACE financing for this project; Jason Clouet from Coral Gables based Bayview PACE expressed his enthusiasm: “We are delighted to provide C-PACE financing that can support business objectives of great sponsors like Waterton and Argosy.”
