Hotel Modera Sells for $47.5 Million

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August 29, 2013 9:53 pm

In 2007, Posh Ventures LLC purchased the former Portland City Center Days Inn for $13.5 Million and reopened the property as the 174 room Hotel Modera. The complete renovation of the hotel was a project taken on by general contractor S.D. Deacon. The success of the hotels transformation payed off for Posh when they recently sold the hotel to Pebblebbrook Hotel Trust for $47.5 Million, netting a modest $21 Million. Their next turn around… the 173 room Red Lion Portland at the Convention Center. For more details check out Wendy Culverwell’s article in Real Estate Daily: ARTICLE

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After researching and interviewing several leading NW hospitality brokers, it was very clear to us that Brian Resendez was the best choice. Marketing a partial interest in a unique hospitality property presented an unusually challenging situation for any veteran broker. Brian’s experience, creativity, hard work, patience and personal care led to a successful outcome for all parties. We highly recommend Brian Resendez and his capable team.

Jim and Wendy Inkster - Motel Seller

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“Brian and his team were a huge support in the purchase of this unique oceanfront hotel on the Oregon Coast. They have great experience in this market, are easy to work with and have the knowledge and patience needed to work through the challenges that come up along the way. We greatly appreciated the extra effort they put in to ensure this deal got to the finish line. Thanks, team!”

Sylvia Beach Hotel - Hotel Buyer

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I appreciate your service, continued support and marketing effort that you have made on the Redwood Hotel project in Grants Pass, OR. The brochure and marketing information that you have compiled for this property is excellent. I look forward to extending our business relationship.

Don Hayes - Hayes Brokerage, Inc.

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It was a great pleasure and experience to work with Brian for our very first property purchase. At times negotiations with the sellers were challenging, but we always found Brian to be super-responsive, professional, and helpful. His office was prompt to communicate with sellers, follow-up with third parties, put together additional documentation, or dig up information. Anything that was needed to keep the ball rolling- Brian and Michelle were on it.

We highly recommend their service, and it will be a pleasure for us to work with Brian and his team when we get our next opportunity.

A. A. - Buyer

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Very difficult deal – estate (foreign beneficiary) and three buyers. Best way to describe it is: “Maze”. But we made it. Brian was instrumental in bringing it together.

Roger Reif - Attorney

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Brian and Michelle did an outstanding job selling Bonneville Hot Springs Resort for us. We had requested that our property sale be done in a completely confidential manner so it did not interrupt our daily flow of business. They created beautiful collateral that represented our property very well and kept it current and complete. They made themselves available to tour the property for all interested parties in a non-invasive manner so we could continue to do business without neither guests nor staff being aware of the property being for sale. We would recommend Brian Resendez as a superbly competent realtor to anyone interested in selling their commercial property.

M. S. - Seller

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Brian Resendez was my personal broker for the sale of two motels that I sold. One sold in March of 2010 and one sold in March of 2011. In selling these motels he showed great skill and professionalism, which was needed, in order to sell these motels in a down market that exists today. Brian was very aggressive and knowledgeable in getting these motels sold in a timely manner.

Charles C. Hagel - Motel Owner

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Our experience with Brian Resendez from SVN Hotels was excellent. Brian not only went the extra mile to make sure we got this deal done, he also gave us honest advice. The process from start to finish was one of the smoothest experiences we have had with an acquisition. I hope to have the opportunity work with Brian and his team on future deals.

S. P. - Buyer

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We had a vision for our next adventure in hotel ownership and it needed the right person to guide us in acquiring a property that would make our dreams come true. Brian made that happen for us. Brian was a great listener and helped negotiate a sale that was a fit for our unique needs. Brian was responsive and kind – we felt like we were always his top priority!

Melanie Prummer, Peace at Home Executive Director - Buyer

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Brian is an outstanding Broker. He is diligent in his service to his clients, and he takes his responsibilities seriously. His connections are very deep in the hospitality industry. Not only does he seem to know everyone, even better, everyone seems to know him. I have won direct business through having Brian introduce me to one of his connections. Now that person is a client our ours as well. Brian is the kind of Broker, and the kind of person, with whom I enjoy doing business.

Mike Grubbe - Business Development Manager at SD Deacon

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My experience with Brian Resendez was nothing short of professional. We had a challenging year long transaction and he completely kept me and the process on track and got us all to the finish line. Brian was always a wealth of information above and beyond what was expected. Thank you Brian!

Hotel Modera Sells for $47.5 Million