Makar Properties Sells The Goodland in Goleta, California to KHP Capital Partners

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. October 05, 2015

SANTA BARBARA, CA. October 5, 2015 - The Goodland Hotel in Goleta, California has been sold to KHP Capital Partners, announced Paul Makarechian, CEO, Makar Properties, today. The 158-room vintage California-inspired surf lodge was curated and developed by Makar. Makar acquired the former Holiday Inn hotel in June of 2013 and opened as The Goodland in October 2014.

"After living in Santa Barbara during college at UCSB, I knew there was a need for an experiential hotel that reflected the unique, incredibly fun culture and beach vibe of the Central Coast," said Paul Makarechian, CEO, Makar Properties. "We are passionate, hands on investors, and are proud to have cultivated The Goodland from concept to development, opening to sale. We look forward to watching the unique brand we created expand under KHP stewardship."

The Goodland, a boutique restoration of a classic California Holiday Inn with unique features curated by Makarechian himself, reflects the area's storied surf culture in hand-picked art, music and programming. To create the hotel's authentic vibe, Makarechian tapped friends and influencers to build an art program that pays homage to the rich surf history of Goleta with one of kind pieces and murals from legendary surf and street artists.

Makar played a hand in curating The Goodland down to the daily guest experience, including featuring the area's top DJ's spinning poolside, farm-fresh California cuisine at Outpost Restaurant, high vibration surf style yoga and expert mixologists in the Good Bar.

"We are excited to have the opportunity to acquire this property and continue the vision of Makar and Kimpton as the property stabilizes and establishes itself in the local market. We are big fans of the Santa Barbara/Goleta area, its high barriers to entry and strong demand characteristics", said Joe Long, Managing Partner, KHP Capital Partners.

Makar Properties, which specializes in self-owned and operated, experiential hospitality in high barrier of entry markets, developed The Goodland with private friends and family capital.

About Makar Properties, LLC

Makar Properties, LLC is a forward thinking real estate investment company specializing in boutique and luxury hotels and curating a collection of distinctly authentic and timeless guest experiences. Properties are located in growth markets with high barriers to entry. Since 2001, Makar has developed and managed over $2 Billion in land entitlement, commercial and residential and hospitality real estate assets. Makar Properties include Palm Springs' Korakia Pensione, the Moroccan oasis voted one of the sexiest hotels in America by New York Times; and the historic Lone Mountain Ranch located at the gates of Yellowstone in Big Sky, Montana. The company is headquartered in Newport Beach, California along with the Makarechian Foundation, dedicated to preserving culture, history and community. Learn more at MakarProperties.com.

Contact:
Katy Saeger / Kelly Vogt Campbell
[email protected] / [email protected]