Bayview Asset Management Provides $40M Loan to Acquire Lake Tahoe Resort

BLDG Management and Metrovest Equities have secured $40 million in acquisition financing to buy the Beach Retreat & Lodge at Tahoe, a destination hotel in Lake Tahoe, Calif., which will be repositioned under the Gurney’s Resorts brand, Commercial Observer can first report.  

Following a $45 million renovation, the hotel will reopen in 2027 as Gurney’s Lake Tahoe. 

Oceanview Commercial Mortgage Finance, an affiliate of Bayview Asset Management, provided the acquisition financing as well as the future advance capital to reposition and renovate the project. 

Newmark’s Greg Morgan and Adam Etra arranged the sale of the property while Institutional Property Advisors’ Max Herzog, Marko Kazanjian and Max Hulsh secured the debt financing. 

Announcing the purchase, Justin Kleinman, executive vice president and chief operating officer of Bldg Management, spoke to Lake Tahoe’s natural beauty and the appeal of four different seasons of tourism as reasons why his firm acquired the property. 

“This acquisition represents a strategic investment and an expansion of Gurney’s Resorts into one of the most distinctive, year-round, alpine destinations in the world,” Kleinman said. 

Located at 3411 Lake Tahoe Boulevard in South Lake Tahoe, the existing Beach Retreat & Lodge at Tahoe sits on more than 7 acres of land and features 13 buildings across its resort community. The property includes 1,000 feet of beach frontage and has an on-site marina, swimming pool, and access to nearby ski resorts. 

The new Gurney’s Lake Tahoe will include a full renovation of guest rooms and a new buildout that includes updated landscaping, waterfront dining, a new fitness center and spa, as well as rebuilt event spaces for weddings and corporate retreats. 

Michael Nenner, president and chief operating officer of Gurney’s Resorts, called the Lake Tahoe property “an unparalleled opportunity” to share the Gurney’s luxury resort brand in “a location of unmatched beauty.” 

Brian Pascus can be reached at bpascus@commercialobserver.com