SEATTLE—JLL‘s Hotels & Hospitality Group has arranged the sale of Suncadia, a resort community with hotel and residential accommodations encompassing close to 6,400 acres of land in Cle Elum, Washington.
JLL represented the seller, funds managed by Oaktree Capital Management, L.P.
The resort features amenities and facilities including the 254-room Lodge at Suncadia, the 18-room Inn at Suncadia, five food and beverage outlets, multiple event spaces and meeting rooms, a swim club, a fitness center, and a spa and wellness center. The resort also features three mountain golf courses: the 7,100-yard, 18-hole Prospector Golf Course, the 7,300-yard, 18-hole Rope Rider Golf Course, as well as the exclusive, private Tumble Creek Golf Course.
The current ownership expects to sell additional units across the Suncadia resort and its sister community across the Cle Elum River, Tumble Creek.
The JLL Hotels & Hospitality team representing the seller was led by Senior Managing Director John Strauss, Executive Vice President Tony Muscio, Executive Vice President Melvin Chu, and Director Tatiana Hodapp.
“With the new flexible work paradigm, the resort saw record lot and home sales,” said Chu. “Revealing the strength of desire for Suncadia product and new ownership will continue to benefit from these exceptional dynamics.”
“The property garnered strong interest from a number of different buyer groups,” Muscio said. “It’s rare to get a chance to buy one of the most exclusive resorts and second home residential development opportunities in the Pacific Northwest.”
JLL’s Hotels & Hospitality Group has completed many transactions over the last five years, totaling $83 billion worldwide. The group’s 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation, and asset management assignments. Its hotel valuation, brokerage, asset management, and consultancy services have helped hotel investors, owners, and operators achieve high returns on their assets.