Please do not leave this page until complete. This can take a few moments.
Fort Lauderdale, Fla., real estate investment firm DoveHill Capital Management acquired 28-room White Barn Inn at 37 Beach Ave. in Kennebunk.
DoveHill owns more than 20 hotel properties, with concentrations in the mid-Atlantic states and the Southeast. This is its first hotel property in Maine.
The purchase price and the seller were not disclosed.
The inn 's day-to-day operations will continue to be managed by Bethesda, Md.-based Auberge Resorts Collection, whose portfolio includes 30 hotels and resorts across the U.S. and in parts of Europe and Central America.
"DoveHill's investment in White Barn Inn represents a strategic opportunity to combine our operational and investment expertise with one of the most distinctive brands in hospitality,” said Jake Wurzak, founder and CEO of DoveHill.
White Barn Inn has earned awards such as Forbes Five-Star recognition and a Five Diamond Award from AAA for its restaurant.
DoveHill said it would make “targeted enhancements throughout the property.”
White Barn’s structures date back over 150 years. It became a hotel in the 1970s.
Guest accommodations include 23 rooms, four stand-alone cottages and a houseboat. There’s a marina, outdoor infinity pool, spa and two restaurants — the White Barn Inn Restaurant and the Little Barn, a casual eatery highlighting local farmstead and fishery products.
A property-wide redesign, led by New York-based Jenny Wolf Interiors, was completed in the summer of 2020 and included guest room and public space contemporary touches and elements from Maine purveyors.
The acquisition represents a turning point in DoveHill’s hospitality strategy, said Wurzak.
"We are focusing on highly unique, independent hotels and inns in incredibly high-barrier-to-entry markets,” he said. “This property embodies everything we look for: iconic status, one-of-a-kind character and a legacy of excellence that we are excited to steward into the future."
DoveHill is focusing on “preferred equity and direct investments in distinctive, irreplaceable hotel assets” through its newly launched DoveHill Opportunity Fund 2, said Charles Paloux, the company’s chief investment officer.
"This acquisition perfectly exemplifies the kind of strategic investment we are pursuing in today's hospitality landscape,” Paloux said.
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Learn MoreWork for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Learn MoreWhether you’re a developer, financer, architect, or industry enthusiast, Groundbreaking Maine is crafted to be your go-to source for valuable insights in Maine’s real estate and construction community.
Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Whether you’re a developer, financer, architect, or industry enthusiast, Groundbreaking Maine is crafted to be your go-to source for valuable insights in Maine’s real estate and construction community.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments