Hilco Real Estate Sales and Marcus & Millichap (NYSE: MMI) announced the sale of the Shilo Inns Newport Oceanfront, a 179-room, full-service hotel located directly on the Pacific Ocean at Newport, Oregon.
The hotel was built in 1966 and spans nearly 2.5 acres across five buildings, with 900 feet of exclusive beachfront access. The property also includes more than 5,000 square feet of meeting space, a 3,450-square-foot full-service restaurant and lounge with ocean views, a 1,178-square-foot café and two indoor pools. The property is located near popular attractions including Nye Beach, the Oregon Coast Aquarium and the Hatfield Marine Science Center, all accessible via US Route 101.
Offers must be submitted no later than July 17 at 5:00 p.m. PDT using the Asset Purchase Agreement available on Hilco Real Estate Sale’s website.
“This asset offers an exceptional opportunity to acquire a legacy hotel with tremendous upside,” said Jordan Schack, vice president at Hilco Real Estate Sales. “With its premier location and multiple revenue drivers, the Shilo Inns is well-positioned to become a dominant hospitality anchor on Oregon’s Central Coast.”
