BIG BEAR LAKE, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Northwoods Resort and Conference Center, (middle left photo) a 148-room hotel in Big Bear Lake. The sales price was $12.5 million.
Robert Brauchli (top right photo) and Jigar Patel, both senior associates in the San Diego office of Marcus & Millichap, represented the seller, WWW Asset One Corp.
Scott Clawson, an investment specialist in the firm’s Chicago Downtown office, represented the buyer, McSam Hotel Gro
up. Michael Goldstein of Packard Hospitality also represented the buyer.
up. Michael Goldstein of Packard Hospitality also represented the buyer. “Purchased below replacement cost, Northwoods Resort is an excellent asset with tremendous upside potential. Through a repositioning effort and expansion of vacant, usable space, the new owner will be able to dramatically increase revenues, while cutting expenses,” explains Brauchli.
“The buyer brings a wealth of knowledge to an underperforming asset,” adds Patel. “Through the implementation of a more efficient management and marketing style, the new owner of Northwoods Resort will see tremendous growth in re
venues. Located at 40650 Village Drive, the four-story hotel is situated on 4.77 acres within the village business district and is walking distance to numerous shops, restaurants and Big Bear Lake. In addition, the hotel is only minutes from both Bear Mountain and Snow Summit.
Built in 1995, the 148-room Northwoods Resort and Conference Center is the largest hotel in Big Bear Lake. The property also includes Stillwells Restaurant and Lounge, a gift shop, a pool, whirlpool, sauna, exercise room and an outdoor amphitheatre
Press Contact: Stacey CorsoCommunications Department
(925) 953-1716
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