JLL arranges sale and financing for suburban Portland Homewood Suites
The hotel is in Portland’s Silicon Forest near the Nike World Headquarters
SAN DIEGO, July 24, 2019 – JLL announces that it has closed the sale of and arranged acquisition financing for the Homewood Suites by Hilton Hillsboro/Beaverton, a 123-suite, select-service hotel in the Portland-area community of Beaverton, Oregon.
JLL marketed the property on behalf of an institutional seller. BHG Hotels, one of the premier hotel owners, developers and operators in the Pacific Northwest, purchased the asset. Additionally, working on behalf of the new owner, JLL placed the 10-year, fixed-rate acquisition loan with American Real Estate Capital, based in Coral Gables, Florida, which is headed by senior managing director David Nigro.
Homewood Suites by Hilton Hillsboro/Beaverton comprises one- and two-bedroom suite-style guestrooms averaging 482 square feet. The four-story, wood-frame hotel features two meeting rooms, a complimentary hot breakfast and evening social event, an outdoor swimming pool, fitness center, business center and Pavilion Pantry Market. Situated on 3.63 acres at 15525 NW Gateway Court, the hotel is 15 miles west of downtown Portland in the heart of Silicon Forest, the industrial corridor between Beaverton and Hillsboro. Homewood Suites by Hilton Hillsboro/Beaverton is adjacent to the 400-acre Nike World Headquarters and the Columbia Sportswear Headquarters, along with numerous other major corporate campuses.
The JLL Capital Markets team representing the seller was led by senior managing director Scott Hall and associates Aaron Lapping and Blake Malecha along with senior director Nick Kassab.
The JLL Capital Markets team representing the new owner included managing director Casey Davidson and Lapping.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About BHG Hotels
Headquartered in Lake Oswego, Oregon, BHG Hotels is one of the premier hotel owner, developer and operators in the Pacific Northwest. BHG Hotels currently owns over 20 hotels with three hotels under development in Oregon and Washington. BHG’s CEO and President, Bakulesh “Buggsi” Patel is also an award-winning hotelier, receiving the prestigious Kemmons Wilson Service Award in 2017, an honor bestowed upon an individual who has significantly contributed to the IHG Owners Association for the betterment of the entire IHG system.