N.Y. captial business purchases Bethany Seaside resorts for $44M
The 112-key Ocean Suites Bethany Seaside, Residence Inn is 1 of the major lodges in the Delaware beach locations, was acquired by EOS Buyers for $32 million | DBT Photograph COURTESY OF EOS Buyers
BETHANY Beach — A New York-dependent hospitality expenditure firm has purchased two Bethany Beach hotels for a mixed $44 million, in accordance to Sussex County land data.
EOS Buyers LLC, a private 4-12 months-old agency founded by Jonathan Wang, purchased both of those Bethany Seashore Ocean Suites and The Holiday getaway Inn Categorical Bethany Seashore, on Might 19. The house was sold by Bluewater Progress Corporation, a actual estate development agency primarily based in Ocean City, Md. The sale was facilitated by Savills, a world-wide industrial authentic estate advisory that represented EOS Traders.
“EOS is fired up to welcome two added drive-to leisure properties to its portfolio while increasing its footprint in the Delaware shorelines,” EOS Running Director Tom Burns stated in a statement. “These two assets continue our strategic strategy of determining one of a kind belongings in high barrier-to-entry markets with desirable lengthy-phrase demand advancement.”
Bethany Beach front Ocean Suites, a 112-place oceanfront resort affiliated with the Residence Inn by Marriott, offered for $32 million. It options vacation resort-like suites, a total assistance spa, a cafe, kitchens in each hotel room and 5 assembly rooms.
The Vacation Inn Express Bethany Beach, a 110-space hotel off Jefferson Bridge Highway and two blocks from the seashore, marketed for $12 million. The hotel, operated by InterContinental Resort Group, has 1,400 square-foot adaptable convention place and a enterprise middle.
This marks EOS Investors’ second and third Delaware addition to its portfolio, as the firm bought the historic Bellmoor Inn and Spa for $17.3 million in March 2020. In advance of that, EOS Buyers built a splash when it procured a 160-acre beachfront vacation resort in Myrtle Beach for $156 million in 2019 and the 318-room Hamilton Lodge in D.C. for $106.5 million.
EOS Investors also owns boutique inns in Beverly Hills, Calif. 3 resorts in Florida and a chain of nine houses in Kennebunkport, Maine.
“We glimpse forward to setting up on the longstanding accomplishment, welcoming hospitality and deep ties to the Bethany Seashore group that the house has fostered for several yrs,” EOS Chief Functioning Officer Simon Mais mentioned in a organized statement.
Bluewater Enhancement Corp. constructed the Bethany Beach front Ocean Suites in 2015. In 2018, the developer acquired the Holiday Inn Express Bethany Beach from Atlantic Administration.
“Bethany Seaside is a excellent resort town in Delaware. I relished operating with the EOS team on the sale of these two accommodations, and I seem forward to seeing them continue on the close connection with the Bethany Beach community that we have created in excess of a lot of several years,” Bluewater Growth Corp. proprietor Jack Burbage explained.
