Investors purchase Nevada City’s Northern Queen Inn
July 4, 2014
A group of investors has purchased the Northern Queen Inn property in Nevada City.
Ekdanta Investments LLC closed the purchase on Monday, said Tyson Tucker of Coldwell Banker Grass Roots Realty's commercial division, who represented the buyers.
Tucker said details on the future plans for the inn property would be disclosed at a later date. He declined further comment.
Sources close to the transaction, who spoke on the condition of anonymity, said the property, on 34 wooded acres at 400 Railroad Ave., was sold by the Ramey Family Partnership, relatives of the late owner Roy Ramey Sr., who started the popular 45-room hotel back in the mid-1970s. A restaurant on the property, Trolley Junction, was closed more than a year ago.
It was not immediately clear if the new owners would reopen the restaurant.
Also on the inn property is The Village, an independent active senior living retirement community on 10.83 acres, according to a website, http://thevillagecateredretirement.com.
The sale price was not disclosed. The property had been listed at $4.2 million, according to real estate records.
According to the hotel website, lodging includes standard motel units, two-story chalets and one-bedroom cabins.
Sources at the hotel and within the investment group did not return calls for comment.
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