Odyssey Resort Portfolio
After originally being hired as the seller’s representative for the sale of Caribou Highlands Lodge in Lutsen, MN, SVN | Northco was ultimately engaged to be the seller’s representative for the sale of the entire Odyssey Resorts portfolio after receiving an unsolicited offer from an investment management group shortly after bringing Caribou Highlands to the market.
The Odyssey Resorts portfolio is comprised of six resorts that are located along the highly awarded North Shore of Lake Superior:
- Caribou Highlands Lodge (Lutsen)
- Beacon Pointe (Duluth)
- Breezy Point on Lake Superior (Two Harbors)
- Grand Superior Lodge (Two Harbors)
- Larsmont Cottages (Two Harbors)
- East Bay Suites (Grand Marais)
SVN | Northco was able to successfully transact the portfolio, and SVN | Northco elected to invest in the portfolio and is now a co-owner, continuing its tradition of investing in healthy resort assets across the Midwest (and beyond).
"Your access to qualified buyers and your management of the sales process was excellent."
"I want to thank you for your wonderful representation for the sale of my company, Odyssey Development & Resorts.
I know conclusively that this transaction would not have been consummated without your guidance and tutelage along the way. As expected, there were many twists and turns along the way and your help in navigating those times was critical. Very important to me, was the fact that you have developed a valuation method for resort properties that makes sense to both buyers and sellers. Valuations of resort properties has long been very difficult given the uniqueness of resort properties and their ownership structures. Your legal background was also useful in interpreting the many legal documents involved in the transaction.
Your access to qualified buyers and your management of the sales process was excellent in my opinion. From the initial listing to transaction close, we were able to accomplish this in approximately 10 months. This is remarkable given that I had seven different operating entities, each unique and with their varied ownership structures and individual financial statements.
I am most happy to talk with anybody that would like to inquire further about my experience with you and your team."
"SVN | Northco was an invaluable resource throughout the process."
"We recently acquired a multi-property boutique resort portfolio in a privately negotiated transaction. With such a complex transaction, there are many moving pieces. SVN | Northco was an invaluable resource throughout the process – highly knowledgeable about the market, they did an excellent job maintaining the momentum needed to ultimately close the deal."
"Your firm was great to work with and your assistance in getting this very complex transaction closed is greatly appreciated."
"It was great working with you on the Odyssey project albeit it was a complex one and it took a village to close the transaction and we got it done. Your firm was great to work with and your assistance in getting this very complex transaction closed is greatly appreciated. Between your experience with Legal, Buyer/Seller all of the Third Parties. We cannot thank you enough."
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