BEND, Ore. - A Bend couple who operates Twin Lakes Resort southwest of Bend has purchased the nearby Cultus Lake Resort, another popular vacation spot, Compass Commercial Real Estate Services announced Wednesday.
The resort is located off the Cascade Lakes Highway on about eight acres leased from the Forest Service and operates under a special use permit. All assets of the resort were part of the sale, including the main lodge with general store and country restaurant, 23 rental cabins and private marina, merchandise, equipment and boats.
The resort was purchased by Kate and Devan Dunn of Bend, who have been running the neighboring Twin Lakes Resort since 2015.
Broker Dan Kemp said the sale price was not disclosed, but the resort initially was listed for sale in June of 2016 at $2.5 million and the asking price was reduced last July to $2.2 million.
"The Cascade Lakes region is a remarkable area that so many people in Central Oregon get to enjoy, and we are very excited and fortunate to be a part of those experiences," Kate Dunn said in a news release.
“Cultus Lake Resort, in particular, holds many fond memories for generations of Oregonians," she added. "We're looking forward to continuing many of the traditions that make Cultus Lake Resort a special place, like rib dinners on Friday and Saturday evenings, Sunday morning breakfast buffet, and the annual Fishing Derby coming up the weekend of May 18th.”
The new owners said Cultus Lake Resort will continue to function as it has operated under the ownership of Sandie and Dan Campbell, along with three generations of their family, for the last 20 seasons.
In Compass Commercial's announcement, Sandie Campbell said, “Our family wishes Kate, Devan and their family all the best. We hope they enjoy everything that makes Cultus such a special place. Cultus will always hold a special place in our hearts. We will miss it and all the extended family we have had the pleasure in meeting and serving.”
Kemp and Graham Dent of Compass Commercial represented the Campbells in the transaction and Kate Dunn was self-represented.