Real estate development and investment firm Braintree Group has acquired the DoubleTree by Hilton Hotel Bend in Bend, Ore., from NexPoint Hospitality Trust. The terms of the transaction were not disclosed.
The 117-room property has an indoor swimming pool, a fitness center, a business center and three meeting rooms totaling 2,327 square feet of meeting space. It is located right off U.S. Route 97, within walking distance of downtown’s shops, restaurants, bars and craft breweries.
“All of us at Braintree Group are thrilled with this newest acquisition to our portfolio, which already includes two wonderful hotels in the Bend market. The prime, downtown location provides business and leisure guests with access to the best amenities that Bend has to offer within walking distance,” Eric A. Danziger, CEO of Braintree Group, said in a statement. “We look forward to repositioning the asset to be included in Hilton’s Tapestry Collection and delivering a unique, elevated experience for our customers.”
Braintree plans to launch a substantial renovation to the property next year. Work will focus on elevating the guestrooms and common areas while implementing a design that is more closely connected to the destination. Upon completion of the renovation, the hotel will be rebranded with a new name as part of the Tapestry Collection by Hilton.
“We are delighted to deepen our presence in Bend, a true four-season resort destination,” said Kristen Knapp, chief investment officer, Braintree Group. “Between our team’s operational capabilities, the irreplaceable location, and a modernized product, we are confident this will become one of the premier offerings in Bend. We are eager to get to work and execute on behalf of our trusted partners.”
A Jones Lang LaSalle team led by Melvin Chu advised the seller and Casey Davidson of JLL advised Braintree Group on the financing. Stonehill Strategic Capital provided the financing.