JLL arranges sale of DoubleTree by Hilton Hotel Salem, Oregon
The hotel is minutes from Salem’s historic downtown and the state capitol building
SAN DIEGO, July 23, 2019 – JLL announces that it has closed the sale of DoubleTree by Hilton Hotel Salem, Oregon, an 80-room, full-service, Hilton-branded hotel in Salem, Oregon.
JLL marketed the property on behalf of an institutional seller. BHG Hotels, one of the premier hotel owner, developer and operators in the Pacific Northwest, purchased the asset unencumbered of existing management and debt.
DoubleTree by Hilton Hotel Salem, Oregon features two meeting rooms totaling 1,500 square feet, an outdoor swimming pool, a fitness center and business center along with several food and beverage options, including the on-site restaurant Press NW Bistro & Bar, which serves lunch and dinner and hosts a happy hour; Wake-up DoubleTree Breakfast Buffet; and Pavilion Pantry Market. Constructed in 1997, the four-story hotel was converted to a DoubleTree in 2012. DoubleTree by Hilton Hotel Salem, Oregon is situated on 1.48 acres at 1590 Weston Court NE in Salem, which is the capital of Oregon and located at the foothills of the Cascade Mountains two hours away from the ski slopes of Mt. Bachelor, one hour from the Oregon coast and proximate to Oregon’s wine country. The hotel is 47 miles south of Portland in the Willamette Valley and along the western edge of Interstate 5, which provides connectivity to the entire region, and about 2.5 miles to Salem’s historic downtown and the state capitol building.
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.
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.
About JLL
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. Visit http://www.bhg.net.