Vesta Hospitality has purchased the Surfsand Resort, a 95-room, iconic beachfront resort in Cannon Beach, OR.  Sonnenblick-Eichner Company, arranged the $58 million sale of the property, along with $41 million of acquisition financing.

Located about 80 miles west of Portland, Cannon Beach is a high-end destination beach resort offering nine miles of coastline and stunning natural attractions. The town is also known for its abundance of art galleries, quaint shops, fine dining and craft breweries. 

“Given the unique quality of this oceanfront property, we were able to orchestrate a competitive sale process resulting in a transaction that had minimal contingencies and a timely closing,” said Sonnenblick-Eichner Company’s Co-Founder, Elliot Eichner. 

The firm’s Patrick Brown added in a news release, “Adding to the wide appeal of Surfsand resort is the fact that there are tremendous barriers to entry in the Cannon Beach market, and the property has always experienced consistent, sustainable income.”