Portland’s McMenamins Inc. hopes to raise $8 million in equity to fund its latest project.
Portland’s McMenamins Inc. hopes to raise $8 million in equity to fund its latest project.
It’s a first for the proprietors of Portland’s wildly popular McMenamins Inc. network of hotels, pubs, breweries and entertainment venues. On Tuesday, a development arm filed paperwork with theU.S. Securities and Exchange Commissionto raise $8 million in equity to fund its latest undertaking, the Anderson School project in Bothell, an affluent suburb on Seattle’s eastside.
In Bothell, McMenamins will convert a former middle school into a hotel, restaurant, brewery, event and soaking pool-fueled visitor destination. The project echoes the Kennedyproject, but is larger in scale and has the potential to become one of the company’s biggest-grossing operations.
McMenamins is organizing its own crowdfunding campaign to target accredited investors — those with $1 million or more net worth and $200,000 or more in annual income, per SEC rules.
Read more at Portland Business Journal
