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Jeld-Wen sells three resorts

By: Nick Bjork//November 22, 2010//

Jeld-Wen sells three resorts

Nick Bjork//November 22, 2010//

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One of Oregon’s largest companies, Jeld-Wen, successfully unloaded a large portion of its real estate portfolio late last week.

The Klamath Falls door and window maker sold a package of three Oregon resorts – Brasada Ranch in Powell Butte, Eagle Crest Resort in Redmond and Running Y Ranch and the adjacent Ridgewater Properties in Klamath Falls – to a group comprised of Northview Hotel Group and Oaktree Capital Management.

A majority of the funds for the purchase were provided by the Los Angeles, Calif.-based investment corporation, Oaktree, while the Westport, Conn.-based Northview will take control of management services for the resorts.  Terms of the deal were not disclosed.

Jeld-Wen put the three resorts, as well as one other, up for sale in late October. The purchasing group decided to pass on acquiring another resort, the Silver Mountain ski resort in Kellogg, Idaho, opting to purchase the three others, which are focused around golf courses.

Dave Zeuske, a Northview partner and president of the company’s property management subsidiary NVHG Management, will oversee the properties moving forward. Zeuske is a Lake Oswego native.

In a release sent out Friday, the purchasing group confirmed plans to make upgrades to all three facilities. These will include, among other things, lobby and guest room renovations at Eagle Crest and Running Y Ranch, as well as a spa expansion and additional meeting space at Brasada Ranch.

According to Zeuske, the company will focus its energy on strengthening resort amenities and the overall guest experience. The company will also be more focused on the rental aspect of the resort opposed to the properties that are for sale at the resorts, he said.

In total, the three resorts encompass 7,100 acres, 263 rental units and five golf courses.



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