| Poulsbo-based Pope Resources recently closed the sale of its 1,300-acre Port Ludlow resort and real estate development assets. The buyer was Port Ludlow Associates LLC, a new company formed by HCV Pacific Partners LLC.
The sale price was reported to be $16.7 million, of which two-thirds was in cash and one-third in the form of a three-year note.
The resort property includes the 37-room Heron Beach Inn, a 300-slip saltwater marina, a 27-hole championship golf course, a conference center, commercial center, an RV park, a restaurant/lounge and related facilities, and water and sewer utilities serving the area.
The real estate development assets include 100 developed lots and land for the development of 450 additional residential lots that will complete the build-out of the master-planned community. |
