Perk Development Closes on Bandon Beach Frontage at the Cape of Gravel Point; Expanding Assets Under Management to over 4 Million Square Feet in Bandon
The Hotel at Gravel Point sets its sights to become a globally recognized oceanfront destination.
BANDON, Oregon / July 17, 2024 — Perk Development closed on approximately 8.45 acres of beach frontage on Wednesday, just south of the Cape of Gravel Point, expanding its Assets Under Management (AUM) to 4,031,478 square feet in the town of Bandon, Oregon. The land acquisition is a significant pick-up for Perk Development, as the developer is currently working through final approvals before the Oregon Land Use Board of Appeals (LUBA) for the proposed Gravel Point Hotel project, located just on the bluff above the beach parcel.
Perk Development and its capital partner, Bandon Beach Ventures, originally acquired approximately 24 acres just east of Beach Loop Drive with the intent to restore a series of wetlands, to introduce a neighborhood-connected trail system, and to develop an upscale 110-key, 32-suite boutique ecotourist hotel. The addition of a beach parcel now gives hotel guests and residents access to some of the most scenic views in the Western United States and potentially expands the hotel offering to include bird and whale watching, fishing, surfing, bonfires, horseback riding access and beach ceremonies.
The parcel has a front row seat to the Oregon Islands National Wildlife Refuge, which is made up of a group of rocky outcrops sprinkled along the sandy Bandon coastline and the wild Pacific Ocean. Within view are famous rock formations: Face Rock, Cat and the Kittens, Wizards Hat, and Gravel Point to name a few. The refuge is home to the admired tufted puffin, and twelve other species of birds, along with harbor seals and stellar sea lions. Approximately 1.2 million seabirds nest in the refuge, making for some great viewing.
The buyer was represented by Shane Devins, attorney at Clean Energy Counsel, with the seller representing himself. Trent Edwards and Kim Hernandez from Commonwealth Land Title and David Noble from Fidelity National Financial handled title, escrow and insurance services for the transaction.
For more information about Gravel Point, please contact Brett Perkins at Perk Development, at brett@perkdevelopmentgroup.com
ABOUT PERK DEVELOPMENT:
Perk Development Group is an entrepreneurial real estate and project development firm that focuses on luxury residential, workforce housing, hospitality, mixed-use and commercial office projects throughout the Western United States. For more information, visit perkdevelopmentgroup.com
