**Las Vegas, Nevada – December 20, 2022** – Kingsbarn Realty Capital (“Company” or “Kingsbarn”) has entered into an Exclusive Negotiation Agreement with the City of Buena Park to construct a new hotel (the “Property”) within the city’s Entertainment Corridor. Buena Park went through a competitive Request for Proposal process, unanimously selecting Kingsbarn over 11 other groups to develop a 141-room, 5-story extended-stay hotel, which will include a pool, fitness center, business center, market pantry, and on-site laundry facilities. The Property, which is located on Beach Boulevard, is only a block north of Knott’s Berry Farm, a major theme park and tourist destination in Southern California. The Disneyland Resort is only 10 minutes south of the Property by automobile, and the Great Wolf Lodge Water Park is 15 minutes away.
Kingsbarn will partner with a major hotel flag to provide extended-stay accommodations and is in final stages of negotiation with several operating partners. A final hotel flag and operator selection will be made prior to the end of the year. “I grew up very close to Knott’s Berry Farm, and to work on such a high-profile project in my old backyard is very special to me,” said Tony Hama, Managing Director of Commercial Development at Kingsbarn. “Kingsbarn is excited to partner with the City of Buena Park to create a first-class lodging experience in the city’s rapidly expanding and evolving entertainment corridor,” Mr. Hama further stated.
“The site on Beach Boulevard is one of the premier properties within the City’s Entertainment Corridor and an ideal location for a new hospitality use,” added Aaron France, Buena Park City Manager. “Kingsbarn Realty Capital came out on top in a fiercely competitive Request for Proposals (RFP) process, and the City is excited to work with them to bring this shared vision for a new hotel to life.”
Construction is expected to begin Summer 2023.
**About Kingsbarn Realty Capital** \
Kingsbarn Realty Capital is a real estate-centric investment house that provides institutional and accredited investors access to an array of alternative investments. Kingsbarn offers investments in private equity, Exchange Traded Funds, traditional investment funds, private placements, and Delaware Statutory Trusts (DSTs). Kingsbarn’s management team has wide-ranging experience developing, managing, operating, and sponsoring a diversified portfolio of stabilized, income-driven properties as well as ground-up construction, value-added offerings, opportunity zone investments, and entitlement projects. Kingsbarn has over $1.5 billion of assets under management throughout the United States.
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