EKN Development Group LLC Announces Acquisition of Beach Front Property in Tahoe Vista for $18M

Press Release

EKN Development Group, along with its financial partners, Garn Development and Stack Real Estate, is thrilled to announce the purchase of the Beesley Cottages located at 6674 N. Lake Blvd in Tahoe Vista, CA.

Following the recent acquisition of the Tahoe Biltmore Lodge and Casino just at the Nevada side of in North Lake Tahoe, EKN is proud to add the highly coveted Beesley Cottages to its Tahoe portfolio. The Beach Club will enhance the experience of guest amenities at the envisioned luxury resort and residences. EKN’s leadership team brings decades of real estate development experience to deliver high caliber, bespoke projects in highly desirable locations.

“The Beelsey Cottages acquisition stands as yet another testament to our dedication to bring this project to life. We are very excited to be a part of this community and to enhance the experience of our project,” said Ebbie K. Nakhjavani, President & CEO of EKN Development Group. “Our collaboration with local partners and stakeholders will include listening sessions and town hall meetings to continuously engage with members of the community. We want to ensure that there is a clear understanding of our vision, timelines, and what to expect as plans come to fruition.”

The Biltmore project was first approved by the Tahoe Regional Planning Agency (TRPA) in 2007 and EKN Development Group is now executing on that vision. EKN will begin by building new roads which were recently approved by Washoe County. These roads will improve traffic circulation and eliminate existing unsafe road conditions around the Biltmore site and in North Lake Tahoe

EKN intends to use the Beesley Cottages site to create a luxury beachfront clubhouse that will offer guests an unparalleled opportunity to experience all the beauty that Lake Tahoe has to offer. The beach club will provide a fairytale wedding and event venue that will include bridal suites for wedding parties and full-service food and beverage amenities. The club’s 24/7 concierge services will arrange access to amenities and activities including cabanas, beach chairs, umbrellas, and watercraft. Guests will be invited to relax on a wide stretch of sandy shoreline as they take in the grandeur of North America’s largest alpine lake. In warmer months, dedicated buoys and the on-site pier will moor the resort’s private boats and provide direct access to the Lake. A shuttle will transport the resort’s residents and guests to and from the beachfront site. This shuttle service is a part of the project’s concerted efforts to help minimize traffic and other potential impacts.

“The Beach Club accentuates the resort’s extraordinary location by bringing the guest experience right to the Lake,” continued Mr. Nakhjavani. “Our appreciation for Lake Tahoe and the communities along the North Shore will contribute to thoughtful implementation of the project. We are immensely excited to see this once-in-a-lifetime project come alive.”

EKN Development Group is a Newport Beach-based real estate development firm, specializing in premier hospitality, retail, mixed-use, and high-density residential developments. EKN currently has over 1,400 hotel keys in development, 350 multifamily residential units, with associated restaurants and other amenities in development across the United States.

Garn Development is a diversified real estate development company specializing in land acquisition, planning, entitlement, design, construction and asset management of hospitality, multi-family, retail, industrial, and assisted living properties. Garn creates value for its partners and have a diverse income stream that is resilient to market cycles. Garn Development’s ample access to capital, investment discipline, and sound financial footing allow the firm to capitalize on long-term industry trends and short-term opportunities alike.

STACK Real Estate is Utah’s leading S.M.A.R.T. communities developer. SMART stands for Sustainable, Mixed-Use, Attractive, Realistic, and Transit-oriented. STACK is focused on building people up by building communities that are SMART. In partnership with forward-thinking municipalities, STACK is building a better quality of life for Utahans amidst unprecedented growth. STACK’s SMART communities blend residential living with walkable services (open spaces, trails, office, retail, hospitality, entertainment, etc.) that level up our quality of life. These developments require public-private partnerships that combine long-term vision with shared investment to create quality neighborhoods and integrated ecosystems. As Utah doubles in population, STACK is making decades-long investments to preserve Utah’s unique lifestyle for future and current residents.

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