Properties change hands in Oregon and Mexico


Two hotels have new owners in Oregon and Mexico. Here is an overview of the details:

Partnership Acquires Hilton Garden Inn Portland / Lake Oswego
The Roxborough Group LLC, AWH Partners LLC and West Point Partners have acquired the Hilton Garden Inn Portland / Lake Oswego in Lake Oswego, OR. This is the first hotel acquisition that each company has made since the start of the COVID-19 pandemic. Financial terms of the transaction were not disclosed.

“This transaction demonstrates our ability to find attractive investment opportunities despite the difficult environment of the transaction,” said Chad Cooley, co-founder / managing partner of AWH Partners. “With our team in place, we believe the Hilton Garden Inn Portland / Lake Oswego is well positioned to bounce back quickly from the pandemic. It has a lot to offer both business and leisure travelers visiting the Portland area.

Adjacent to the intersection of Interstate 5 and Freeway 217, close to downtown Portland, the 179-room Hilton Garden Inn Portland / Lake Oswego is near Bridgeport Village, a bustling shopping complex. air known for its many restaurants and shops, and Kruse Woods Corporate Park, a 20-building office campus located in Lake Oswego.

“One of the main reasons for investing in this property is its leading positioning in an excellent submarket,” said Marc Perrin, Managing Partner of The Roxborough Group. “Lake Oswego is an increasingly attractive alternative to downtown Portland, and this hotel with its recent room refurbishment is the best performing asset in the submarket.”

Amenities at the Hilton Garden Inn Portland / Lake Oswego include free Wi-Fi, indoor pool, fitness center, pet-friendly rooms, business center, free parking and more. The property has nearly 1,225 square feet of event space. There is also an on-site restaurant, The Garden Grille & Bar.

The partnership plans other property renovations over the next few years, including improvements to the lobby and public spaces, as well as a new fitness center.

“We are delighted to partner with AWH and Roxborough for the acquisition of the hotel,” said Sri Sambamurthy, Managing Director of West Point Partners. “The combination of an industry-leading brand in an infill submarket with strong demand drivers positions the hotel well for the recovery. “

Playa Hotels & Resorts completes sale of Dreams Puerto Aventuras
Playa Hotels & Resorts NV has completed the sale of Dreams Puerto Aventuras for a total of $ 34.5 million in cash.

The transaction increased the company’s cash flow by approximately $ 32 million, reflecting the consideration of $ 34.5 million net of customary closing costs. The proceeds from the sale of these complexes will be used for general business purposes, which may include reducing the Company’s outstanding debt.

Source link

Leave A Reply

Your email address will not be published.