{"id":1004134784,"date":"2016-01-15T09:24:53","date_gmt":"2016-01-15T17:24:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004134784"},"modified":"2020-04-05T23:52:42","modified_gmt":"2020-04-06T07:52:42","slug":"coastal-oregon-hotel-changes-ownership","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/coastal-oregon-hotel-changes-ownership\/","title":{"rendered":"Coastal Oregon Hotel Changes Ownership"},"content":{"rendered":"<p><em>By Ioana Neamt, Associate Editor<\/em><\/p>\n<div id=\"attachment_1004134785\" style=\"width: 305px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/011.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004134785\" data-attachment-id=\"1004134785\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/coastal-oregon-hotel-changes-ownership\/01-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/011.jpg\" data-orig-size=\"295,197\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"01\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/011.jpg?w=295\" class=\"wp-image-1004134785 size-full\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/011.jpg\" alt=\"Edgecliff Motel, Lincoln City, Ore.\" width=\"295\" height=\"197\" \/><\/a><p id=\"caption-attachment-1004134785\" class=\"wp-caption-text\">Edgecliff Motel, Lincoln City, Ore.<\/p><\/div>\n<p><strong>Lincoln City, Ore.<\/strong>\u2014<a href=\"https:\/\/crystalip.com\/\" target=\"_blank\" rel=\"nofollow\">Crystal Investment Property LLC<\/a>, a member of Kansas City, Mo.-based <a href=\"https:\/\/hbihotels.com\/\" target=\"_blank\" rel=\"nofollow\">Hotel Brokers International<\/a>, has recently facilitated the sale of\u00a0a 54-key motel on the Oregon coastline.<\/p>\n<p>Located at 3733 Highway 101 in Lincoln City, Ore., the Edgecliff Motel sits on a bluff overlooking the Pacific Ocean. The property is conveniently located roughly one mile south of the 63-store Tanger Outlet Mall, in proximity to the south end of Lincoln City on the Central Oregon Coast.<\/p>\n<p>Crystal Investment Property represented the undisclosed seller in the sale\u00a0of the Edgecliff Motel. Joseph Kennedy, president of the company, worked closely with both the buyer and seller to negotiate the $1.6 million price tag for the property. The buyer of the asset is planning to invest close to $1 million in upgrades at the site.<\/p>\n<p>\u201cWe were pleased to be able to overcome hurdles in what was a very complex purchase structure in order to close the sale for the Seller,\u201d said Kennedy in a statement. \u201cThe Buyer is beginning a comprehensive remodel and we look forward to the positive improvements this revitalized property will bring to the hospitality marketplace in Lincoln City.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 54-key Edgecliff Motel in Lincoln City, Ore. recently changed hands for $1.6 million.<\/p>\n","protected":false},"author":192,"featured_media":1004134785,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21751,21783,21742,15],"tags":[],"class_list":["post-1004134784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-hotel","category-investment","category-latest","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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