News Announcement
THE TILGHMAN ISLAND INN RETAINS HERITAGE EQUITY PARTNERS
APRIL 9, 2013 – TILGHMAN ISLAND, MARYLAND – Heritage Equity Partners has been retained to seek new equity, a joint venture partner, or an entirety sale of The Tilghman Island Inn, a unique all-season waterfront mini resort just minutes from St. Michaels, MD. The Inn is in its 23rd year of operation under the current ownership.
Located on a five acre waterfront site at the entrance to Knapps Narrows from the Chesapeake Bay, The Tilghman Island Inn is a 15,000 sq. ft. hotel condominium comprised of 20 hotel units. The property is zoned VC, Talbot County’s Village Center. The VC zoning is characterized by low to moderate intensity residential and commercial uses. Features include parking for 40+ cars, 21 boat slips, swimming pool, tennis court and a full service fine dining restaurant. The beautiful dining room seats about 110 customers and caters not only to their guests, but business meetings, visitors to the area, and local residents. Temperature controlled storage is available for more than 4,500 bottles of wine. David McCallum, the owner and executive chef, has received numerous awards for his culinary excellence.
The Tilghman Island Inn gets customers from almost every state and from Europe, often in conjunction with visits to Washington, D.C. But the Inn’s market is primarily the Mid-Atlantic States, with strong participation from the Washington and Philadelphia metropolitan areas.
According to Fred Cross, a Partner at Heritage Equity Partners, “This is an excellent opportunity to partner with, invest in, or acquire an established hotel/restaurant operation. There are immediate opportunities to make structural and cosmetic improvements that will significantly increase the value of the business and property going forward. Due to it being a condominium regime and allocated for 20 sewer hookups, the property should also have great alternative use development potential going forward. ”
Heritage Equity Partners, headquartered in Easton, Maryland, provides investment banking services for companies and properties with unique difficulties such as financial distress, bankruptcy, special financing needs, or partnership disputes, and has completed in excess of 400 engagements throughout the United States since 1988.
Contact:
Fred Cross, FCoss@EquityPartnersHG.com, (866) 969-1115 ext. 2