IRV OFFICE: San Diego, California (USA)
CLIENT: Private Sector – Confidential (USA)
TYPE OF ASSIGNMENT: Going concern valuation of the leasehold interest
DATE EXECUTED: January 2008
A leasehold interest in a portion of Pier H of the Long Beach Harbor, which includes the permanently docked Royal Mail Ship (RMS) Queen Mary, the Spruce Goose dome (approximately 135,000 square feet), 30.0± acres of excess land adjacent to the Queen Mary, and 11.55± acres of adjacent water rights. The Queen Mary ship operates a 365-room hotel spanning three decks and has about 14 art deco reception salons, a tri-level exhibition hall, three harborview restaurants and art deco bar, spa facilities, a wedding chapel and multiple observation decks. Remaining portions of the site are improved with the former Spruce Goose dome, the Carnival Cruise Line 1,000′ ship terminal with 40,000 square foot passenger terminal, a 1,300-car parking structure, some small retail shops, a helicopter pad and smaller boat dock.