Braintree Group, a privately held, vertically integrated, national real estate development and investment firm, has acquired the DoubleTree by Hilton Hotel Bend located in Bend, OR.
The 117-room property features an indoor swimming pool, fitness center, business center and three meeting rooms totaling 2,327 sq. ft. of meeting space. It is one mile south of the Old Mill District, a 270-acre mixed-use development along Deschutes River. Also nearby is the Mt. Bachelor Ski Resort in the Cascade Mountains.
“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, CEO, 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. The company 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.
“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,” said Kristen Knapp, chief investment officer, Braintree Group. “We are eager to get to work and execute on behalf of our trusted partners.”
A JLL 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.