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Waterton, Argosy Team to Redevelop Boutique Hotel Near Yosemite
Waterton, a Chicago-based national real estate investor and operator, has partnered with Argosy Real Estate Partners to acquire the Hounds Tooth Inn, a 13-key independent bed and breakfast on a 17-acre Opportunity Zone site in Oakhurst. Located near the main gate to Yosemite National Park, the site will be re-developed into Outbound Yosemite Resort, a 135-key outdoor-inspired, lifestyle select-service hotel.
“The sprawling site provides ample opportunity to create a differentiated product for the lifestyle traveler,” said Matt Mering, EVP of hospitality at Waterton. “It’s an exciting opportunity to acquire a development site with an existing hotel asset that will benefit from a renovation that will expand the key count and add a variety of curated amenity options.”
Simultaneously, Bayview PACE said it furnished a $19.8-million Commercial PACE financing for the project. “We are excited to provide C-PACE financing that can support the business objectives of great project sponsors like Waterton and Argosy,” said Jason Clouet of Coral Gables, FL-based Bayview PACE
- ◦Sale/Acquisition
- ◦Development
- ◦Financing
