NEWPORT BEACH, Calif., April 8, 2019 /PRNewswire/ -- RevOZ Capital has partnered with Alpha Wave Investors, LLC to close an Opportunity Zone investment—a holistic hotel with street front retail. Situated in the core of Redmond, OR, the historic property is being repositioned to a 49-room hotel featuring 13,000 square feet of street front retail, restaurant, lobby co-working and bar space. The transaction closed in March 2019.
The hotel will operate as a Soul Community Planet property, a concept established by Alpha Wave. The Soul Community Planet hotel merges environmentally friendly and socially responsible practices with healthy based accommodations—nutritious plant-based food choices are provided to fit the needs and wants of all customers. The Redmond property will offer venues for socializing, collaborating, coworking and a superior fitness experience.
The Soul Community Planet Redmond hotel is the only select service hotel centered on these values in a growing market that is failing to meet these needs. The new ownership will complete renovations within the next several months and is anticipated to reopen in 2019. The Redmond-Bend area is now known as one of the fastest growing cities in the U.S. May, 27, 2017 – "Bend Among Fastest Growing Cities." A hot leisure destination, the year-round population of the Redmond-Bend Metropolitan Statistical Area is approximately 200,000, and attracts around three million visitors each year.
About RevOZ Capital
RevOZ was established through the partnership of RAJ Capital, a multi-generational family office with deep real estate investment and development expertise, and Cress Capital, an institutionally-backed owner and operator of commercial real estate.
RevOZ facilitates the revitalization of federally sanctioned opportunity zones by providing co-investment capital to qualified developers of institutional quality projects. Our unique approach is a product of founders' deep experience in urban redevelopment, capital markets and decades of cycle-tested commercial real estate experience.
About Alpha Wave Investors
Alpha Wave Investors, LLC. is a Southern California-based private equity investment company. Alpha Wave's vision is to be the premier sponsor of value-add multifamily and hotel investments in the western US.
SOURCE RevOZ Capital