Projects Worked On
Wild Eagle Lodge, Eagle River, WI
NGH was hired as the listing broker for the sale of the Wild Eagle Lodge, a sprawling, full-service lakeside resort in Eagle River, Wisconsin. This resort features 76 condominium homes, of which 32 were owned and another 40 were non-owned but in the rental pool (at the time of sale), a restaurant, event space, and numerous resort amenities. NGH was able to successfully transact the property to a group that had never purchased a hospitality asset before, and NGH elected to invest in the resort and is now a co-owner. Since the closing of the sale, NGH has consulted on the management of the operation, which has ensured its continued success and profitability. This property has recently sold.
Caribou Highlands Lodge, Lutsen, MN
Caribou Highlands Lodge is an all-season resort nestled in the heart of the Sawtooth Mountains in legendary Lutsen, MN. The resort is a highly profitable operation year-over-year with a 36+ history of providing best-in-class accommodations on the North Shore of Lake Superior. The mountain views from the lodge rooms, condos, townhomes and spacious four-bedroom Poplar Ridge log homes are unique in providing ski-in ski-out access to Lutsen Mountains, close proximity to the newly renovated Superior National Golf Course, and central access to all that the North Shore has to offer. This property has recently sold.
Odyssey Resorts on the North Shore, Minnesota
In a recent megadeal, six properties under the Odyssey Resorts portfolio were sold to Blackburn Investment Management (primary owner), Madison Hospitality Group (a Brainerd-based management company) and additional investors. The properties included in the sale are:
- East Bay Suites – Grand Marais
- Caribou Highlands – Lutsen
- Beacon Point – Duluth
- Breezy Point Cabins (Two Harbors)
- Grand Superior Lodge (Two Harbors)
- Larsmont Cottages (Two Harbors)
Gunflint Lodge, another Odyssey property, sold in June 2016 with an asking price of $6.8 million. The Caribou Highlands property sold in August 2017 for just under $7 million. Also, Superior Shores (Two Harbors) is under contract for $17.5 million.