Waterton, a Chicago-based national real estate investor and operator, has partnered with Argosy Real Estate Partners to acquire the Hounds Tooth 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 – Waterton’s Executive Vice President of Hospitality – commented that “the sprawling site provides ample opportunity for creating an exceptional product tailored towards lifestyle travelers”. He added that it is “an exciting opportunity to acquire a development property with existing hotel assets which can benefit from renovation work expanding its key count as well as adding various curated amenities”.
Simultaneously Bayview PACE announced they had furnished $19.8 million Commercial PACE financing for this project; Jason Clouet of Coral Gables FL based Bayview PACE said he was “excited” about providing C-PACE financing which could support business objectives of great sponsors like Waterton and Argosy alike
