(206) 715-9910
WELCOME TO
CRIMSON LODGING & DEVELOPMENT
Building Real Estate Portfolios, Elevating Hospitality
A longstanding ambition to be the best Commercial Real Estate (CRE) development firm in the hospitality industry has been our main aspiration since opening our business in 1995. With extensive experience in development, operational oversight and financial analysis, our team is able to come up with exceptional developments of superior value while adhering to each projects overall investment goals. At Crimson Lodging, we are not just building hotels—we are elevating hospitality standards.
ALL ABOUT US
Always Reaching For New Heights
Our development projects date back to 1995 when our Principal built his first Quick Service Restaurant (QSR), developing and selling six restaurants between 1996 and early 2000. From those humble beginnings our companies have invested in, acquired and/or developed, over $75m worth of commercial real estate.
Our mission for 20+ years: to build structures with enduring value and the operational potential to return solid IRRs for our accredited investment partners. Our team of creative professionals carefully evaluate each project in order to adhere to both financial and time constraints, and over the years we have become a small but well known owner/developer/manager in the hospitality space.
If you’re looking for a solid CRE Development Investment to help grow or diversify your real estate or investment portfolio, consider Crimson Lodging and Development. With over 25 years in the hospitality space owning, operating and developing everything from a chain of QSRs to full-service hotels, we have the expertise and the desire to help you succeed with your CRE investment goals.
OUR SERVICES
How We Can Help You
ACQUISITIONS
Our partners are our number one priority, and we go the extra mile to make sure they get the most from their real estate investment. With over $75m in acquisition and development experience, and having our own "skin in the game" in every capital stack, we understand what it takes to wear multiple hats with the overarching goal of capital preservation and equity growth. Our success is measured one deal at a time and one partner at a time.
ASSET MANAGEMENT
Every deal needs an owner/investor representative to create a bridge between the various parties. Todays real estate developments entail a mix of owner, developer, contractor, architect, city, franchisor, lender and more. With our experience and breadth of knowledge in hospitality we provide the necessary balance to coordinate the complicated road to success that allows for good CRE investments and solid returns.
DEVELOPMENT
Like all opportunities, development of commercial real estate offers multiple challenges and is ultimately a very complex venture. From market demand to entitlements, from acquisition to construction, from financing to disposition. Each element is essential in the success and overall return to the capital partners, and we see development as a beginning-to-end process, not just a building but a living, breathing entity that needs daily care and oversite.
BROKERAGE
With over $2b in dispositions and owner representation we have a clear understanding and path for our owner/investors during the extended life cycle of commercial real estate. Our goal is, and continues to be, servicing our client-partners while maximizing their returns through an in-depth understanding of the complicated nuances involved with large scale commercial real estate transactions.
INVESTMENT OPPORTUNITIES
Acquisition & Development
CURRENT OPEN INVESTMENTS
HOMEWOOD SUITES BY HILTON
MISSOULA, MONTANA
GROUND UP DEVELOPMENT
CB Hotel I Raise: $3,450,000
Remaining: $950,000 (6.2021)
Land owned by Co-GP (Erck Hotels)
Overall Project Cost: $22,000,000 (estimated)
Development of 101-Room Homewood Suites by Hilton
CB Hotel I: General Partner & Asset Manager
Erck Hotels: General Partner & Hotel Manager
Architect: Jensen Fey Architecture
Contractor: Nielsen Construction
Construction Lender: TBD
Construction began May 2021
Opening June 2022
HAMPTON INN & SUITES
BELLINGHAM, WASHINGTON
GROUND UP DEVELOPMENT
CB Hotel I Raise: $2,600,000
Remaining: CLOSED as of 10.2019
Land Purchased 2018
Overall Project Cost: $18,550,000
Opened - May 2021
Development of 98-Room Hampton Inn & Suites by Hilton
CB Hotel I: General Partner & Asset Manager
Erck Hotels: General Partner & Hotel Manager
Construction Lender: Citizens Alliance Bank
Architect: Johnson Braund Architects
Contractor: Nielsen Construction
Construction begins September 2019
Open December 2020
PORTFOLIO HISTORY
A brief look at past acquisitions and development work
MARRIOTT FAIRFIELD INN - 100 ROOMS
(FORMER HOLIDAY INN)
ISSAQUAH, WASHINGTON
Acquired - May 2015
Interior Renovation - 2016/2017
Approved for Marriott Fairfield Inn Marriott Conversion
--Renovation to begin Q3 2021
CB Hotel I: Co-General Partner, Franchise Rep and Asset Manager
Hotel Manager: Intermountain Management
Interiors: Intermountain Renovation Consultants
Architect: ARRIS Architects
$1,000,000 Initial Raise
$2.8m Holiday Inn Renovation
$3,000,000 Follow On Offering
$6.1m Marriott Fairfield Renovation
HAMPTON INN BY HILTON - 152 ROOMS
TUKWILA, WASHINGTON
Acquired & Syndicated - July 2017
Exterior Renovation - 2018 (completed)
Interior Room Renovation - 2019 (completed)
Lobby Renovation - Q4 2022
CB Hotel I: Co-General Partner, Franchise Rep, Asset Manager
Hotel Manager: Intermountain Management
Contractor: Smith Installations
Architect/Interiors: Intermountain Renovation Consultants
Lender: US Bank
$8,000,000 Initial Raise
$17m Acquisition
$5.45m Renovation
WAYPOINT HOTEL - 75 ROOMS
BLACK BEAR DINNER
BEND, OREGON
Acquired - April 2018
Exterior & Lobby Renovations - 2018/2019 (completed)
Model Rooms - 2019 (completed)
Interior Renovations - Q2 2022
CB Hotel I: General Partner, Franchise Rep and Asset Manager
Hotel Manager: Mollendor Hotel Management
Contractor: R&H Construction
Architect/Interiors: Holst Architecture
Lender: Alaska FCU
$2,250,000 Initial Raise
$1,800,000 Follow On
$5.5m Acquisition
$3.4m Renovation
ELEMENT BY WESTIN - 177 SUITES
TUKWILA, WASHINGTON
Land Purchase - 2018
Ground Up Development - 2019/2020
Opened June 2021
CB Hotel I: Limited Partner, General Partner Representative
Developer: Blackridge Companies
Asset Manager: Braxton Development
Management Company: InnVentures
Contractor: Key Construction
Architect: Johnson Braund
Lender: Western Alliance Bank
$43m Development
Opening Q4 2020
SOLD 2016
FREESTONE PLAZA
KENT, WASHINGTON
Land Purchase - 2004
Entitled - 2005
Developed - 2005/2006
*IRR 43% (past performance is no guarantee of future results)
HARE Development: General Partner and Developer
Wesmar Investments: Property Manager
12,500/sf Retail Center
Architect: CDA Architects
Lender: US Bank
$4,200,000 Development
$6,000,000 Sale
CONTACT
CRIMSON LODGING
(206) 715-9910