Paramount Lodging Advisors (PLA) has successfully executed the transaction of the Ocean Front Gold Beach Inn, Ireland’s Rustic Lodges & RV Park and Ireland’s Commercial Income property in Gold Beach, OR. Senior Managing Director Scott Griemsmann and Senior Associate Subu Thiagarajan represented the seller in the sale.
This transaction presented the buyer a unique opportunity to acquire two independent hotels, an RV Park, and commercial rental units on several acres between the Pacific Ocean and coastal Highway 101. Upon completion of a property improvement plan (PIP), upgrading technology, and implementation of professional management the buyer should be ideally positioned to further penetrate the market and expand its presence along the Oregon coast.
“The Southern Oregon coast continues to experience growth due to an expanding Oregon population and escalating costs in coastal California. Retirees and leisure travelers from neighboring states are seeking similar characteristics to coastal California communities and the Southern Oregon coast offers this at a fraction of the cost. In addition, southern Oregon populations continue to expand adding further demand for accommodations along the coast”
This transaction contributes to PLA's activity in the Western U.S. and represents the sixth closing in recent months with two additional deals that also closed in Q4 2018.