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Press Release
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Contact: Nick Derasmo (212.841.7505) |
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SONNENBLICK-GOLDMAN COMPANY ARRANGES THE SALE OF WESTWARD LOOK RESORT IN TUCSON, ARIZONA |
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Thursday, October 05, 2000
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New York, NY
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SHC Westward Look, LLC has sold the Westward Look Resort in Tucson, Arizona to Boutique Hotel Company. Sonnenblick-Goldman Company, acting as the exclusive advisor, arranged the sale of the 4-star resort. The Resort is located ten miles north of downtown Tucson on East Ina Road. Westward Look was originally built in 1912 and contains 39 free-standing buildings which are designed as adobe style casitas, featuring spacious guestrooms.
A destination resort located in the foothills of the Santa Catalina Mountains, Westward Look Resort contains 244 guest rooms, 8 tennis courts, three swimming pools, a fitness center, 8,100 square feet of meeting space and a 3,400 square foot Wellness Center, which offers a variety of spa services. In addition, the Resort features one of Tucson's best restaurants, the Gold Room, which is the recipient of Arizona Daily Star's prestigious Silver Spoon Award.
The Resort contains approximately 75 acres, of which 40 acres are undeveloped. The undeveloped acres are currently zoned for additional development.
According to Mark Gordon, Managing Director of Sonnenblick-Goldman's International Lodging & Leisure Group, "The acquisition of The Westward Look Resort represents a transaction with considerable value enhancement potential. While the Resort is in need of renovation, the opportunity exists, with a defined operating strategy, to create a unique conference center and spa resort. The property can support a variety of uses, including additional meeting space and guest rooms, as well the development of a time share component, which would significantly enhance the value of the Resort." |
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Sonnenblick-Goldman, LLC is the industry’s leading independent real estate investment banking firm. Founded in 1893 to serve the financing needs of the real estate industry, Sonnenblick-Goldman, LLC provides a full range of financial services, including debt and equity placements, joint ventures, investment sales and advisory services. Headquartered in New York, Sonnenblick-Goldman maintains offices in San Francisco, Boston, Hong Kong, Shanghai, Sydney and Tokyo. Further information can be found at Sonnenblick-Goldman, LLC’s website at www.cushwake.com/sonngold.
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