Irreplaceable Pacific Northwest destination resort community sells in landmark deal
JLL’s Hotels & Hospitality Group closes the sale of Suncadia resort, located in the heart of the Cascades just 80 miles east of Seattle
SEATTLE, Aug. 19, 2021 – JLL’s Hotels & Hospitality Group announced today that it arranged the sale of Suncadia, a resort community with hotel and residential accommodations encompassing close to 6,400 acres of pristine land in Cle Elum, Washington.
JLL represented the seller, funds managed by Oaktree Capital Management, L.P.
The resort features an array of amenities and facilities including the 254-room Lodge at Suncadia, the 18-room Inn at Suncadia, five food and beverage outlets, multiple event spaces and meeting rooms, a swim club and fitness center, and spa and wellness center. The resort also features three award-winning mountain golf courses: the 7,100-yard, 18-hole Prospector Golf Course, the 7,300-yard, 18-hole Rope Rider Golf Course, as well as the exclusive, private Tumble Creek Golf Course.
The current ownership expects to sell additional units across the highly-amenitized Suncadia resort and its exclusive sister community across the Cle Elum River, Tumble Creek.
The JLL Hotels & Hospitality team representing the seller was led by Senior Managing Director John Strauss, Executive Vice President Tony Muscio, Executive Vice President Melvin Chu and Director Tatiana Hodapp.
“With the new flexible work paradigm, the resort saw record lot and home sales,” said Chu, “Revealing the strength of desire for Suncadia product and new ownership will continue to benefit from these exceptional dynamics.”
“The property garnered strong interest from a number of different buyer groups,” Muscio said. “It’s rare to get a chance to buy one of the most exclusive resort and second home residential development opportunities in the Pacific Northwest.”
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide. The group’s 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.