Eagle Crest Resort sold for $12M

KDG Capital, a real estate private equity firm focused on full-service hotels and resorts, acquired Eagle Crest Resort, a 100-room destination resort, in Redmond, Ore., for $12 million.

Eagle Crest was developed in 1985 and is the largest conference and lodging facility near Redmond. Redmond is located in Central Oregon’s high desert in the greater Bend-area.

The seller was Northview Hotel Group with funds managed by Oaktree Capital Management. Northview executives had said the resort was profitable, but that Oaktree was looking to sell. Holliday Fenoglio Fowler marketed the property on behalf of the seller.

KDG Capital purchased the hotel with no debt and unencumbered of a management contract. Aimbridge Hospitality, based in Plano, Texas, will manage the resort.  

Eagle Crest features three golf courses, three sports centers, a full-service spa, a conference center, an equestrian center and an abundance of outdoor activities, including biking, fishing, hiking, skiing, rock climbing and snowshoe tours.

The resort sits on 1,700 acres between the Willamette National Forest and the Deschutes River, with sweeping views of the Cascade and Blue Mountains and the Oregon high desert. 

KDG Capital focuses on hotels and resorts that can benefit from enhanced branding, management, renovation and repositioning. Since inception in 2017, KDG Capital has completed more than $200 million of hospitality investments and continues to expand its portfolio. 

Eagle Crest was one of three Oregon resorts that Northview acquired in November 2010 from Jeld-Wen, a window and door manufacturer formerly headquartered in Klamath Falls, Ore. Northview still owns Brasada Ranch northwest of Bend.

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