Carey Watermark buys the Sanderling Resort in North Carolina

Carey Watermark Investors, a non-traded real estate investment trust (REIT), acquired the Sanderling Resort, a 106-room full-service resort, located in Duck, North Carolina on the Outer Banks. The purchase price was $38 million. 

The hotel is located on 13 acres of land on the Outer Banks in N.C., and is approved to add an additional 24 guestrooms to the existing site. CWI plans to begin this project in late 2014 and to deliver the 24 additional guestrooms in time for the 2015 peak spring and summer seasons. 

The aggregate $48.1 million investment includes a $38 million purchase price as well as $10.1 million of other acquisition-related costs and planned capital expenditures. The acquisition was financed with $22 million of debt. 

Virtual Event

Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.


The resort will continue to be managed by Northview Hotel Group, which has overseen daily operations at the resort since May 2012 along with a transformational renovation in 2012-2013.