BOISE, Idaho (KTVZ) — Braintree Group, a privately held, vertically integrated, national real estate development and investment firm, announced Monday it acquired the DoubleTree by Hilton Hotel Bend, located in downtown Bend and plans a renovation and rebranding.
Terms of the acquisition were not disclosed.
The 117-room property (originally the Phoenix Inn) features an indoor swimming pool, fitness center, business center, and three meeting rooms totaling 2.327 square feet of meeting space, according to the announcement that continues in full below:
It is located right off US Route 97 in the heart of downtown Bend, Oregon. Bend is known for its scenic setting and year-round recreational activities. Guests will enjoy being within walking distance of downtown’s unique boutique shops, restaurants, bars, and craft breweries. It is one mile south of the Old Mill District, a 270-acre mixed-use development along Deschutes River, which is home to Bend’s premier shopping, dining, and entertainment experiences.
Various outdoor activities are nearby, including fishing and rafting on the beautiful Deschutes River and the Mt. Bachelor Ski Resort in the Cascade Mountains, one of the top-ranked year-round recreational destinations in Oregon.
“All of us at Braintree Group are thrilled with this newest acquisition to our portfolio, which already includes two wonderful hotels in the Bend market. The prime, downtown location provides business and leisure guests with access to the best amenities that Bend has to offer within walking distance,” said Eric A. Danziger, Chief Executive Officer, Braintree Group. “We look forward to repositioning the asset to be included in Hilton’s Tapestry Collection and delivering a unique, elevated experience for our customers.”
The acquisition of the DoubleTree by Hilton Bend fits squarely into Braintree Group’s value-add strategy. Braintree plans to launch a substantial renovation to the property next year. Work will focus on elevating the guestrooms and common areas while implementing a design that is more closely connected to the destination. Upon completion of the renovation, the hotel will be rebranded with a new name as part of the Tapestry Collection by Hilton.
“We are delighted to deepen our presence in Bend, a true four-season resort destination,” said Kristen Knapp, Chief Investment Officer, Braintree Group. “Between our team’s operational capabilities, the irreplaceable location, and a modernized product, we are confident this will become one of the premier offerings in Bend. We are eager to get to work and execute on behalf of our trusted partners.”
A Jones Lang LaSalle team led by Melvin Chu advised the seller and Casey Davidson of JLL advised Braintree Group on the financing. Stonehill Strategic Capital provided the financing.