Northview Hotel Group and partner buy The Sanderling Resort on Outer Banks
- May 22, 2012
CBRE|Hampton Roads said Tuesday that it has completed the sale of The Sanderling Resort & Spa in Duck, N.C. CBRE Hotels represented the seller, Turnpike Properties, in the sale to a partnership of Northview Hotel Group and Five Mile Capital Partners.
The Sanderling Resort & Spa, located at 1461 Duck Road between the Atlantic Ocean and Currituck Sound on the Outer Banks, is the only full-service destination resort in the area.
S. Douglas Henkel, executive vice president with the CBRE Hotels team, was the sole broker on the transaction. “We were very pleased to have been selected by Turnpike Properties to represent them in the disposition of the Sanderling Resort & Spa. We had just begun our marketing process when we introduced the offering to Northview Hotel Group, who then submitted an acceptable offer that we were able to transition into a contract resulting in a settlement,” Henkel said in a statement. Terms of the sale were not disclosed.
According to CBRE, The Sanderling will continue to operate as an independent luxury resort under Northview Hotel Group’s management arm, NVHG Management. The resort includes the 88-room hotel, two restaurants, 5,000 square feet of meeting space, a 14,000 square-foot-luxury spa with nine treatment rooms, and five vacation homes. Formed in 2004 to make opportunistic hotel acquisitions, the Northview Hotel Group — based out of Connecticut and California —has picked up more than $550 million worth of hospitality-related assets.
Northview Hotel Group plans to upgrade the resort’s amenity package. Improvements are scheduled to be completed during the upcoming winter season.