McMenamins turns to outside investors

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Thursday, April 03, 2014

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

 

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