Hybridge Capital Management, a Los Angeles-based investment firm focused on commercial real estate and technology, has acquired The Yachtsman Resort in Myrtle Beach, S.C. The deal was secured out of bankruptcy in an off-market transaction. Other details were not disclosed.
Hybridge Capital Management now owns 569 hotel/resort keys in Myrtle Beach. The company intends to implement a capital improvement/renovation program to revitalize The Yachtsman Resort.
"With this acquisition, we further cement our goal to create a greater sense of place within the community,” Hybridge Capital Management's Max Mellman said in a statement. “The Yachtsman is an iconic piece of real estate in the Myrtle Beach community.”
Mellman and Drew Rands of Max Benjamin Partners and Austin Ghaderi of CBRE secured the financing on behalf of Hybridge Capital Management. The seller, Lemonjuice Solutions, was represented by Bhavesh Patel of Hodges Ward Elliott on the sale.