Nines Hotel in Portland, OR Sold for $127 MM…
This 331 guestroom luxury hotel, which is located in the heart of downtown Portland across from Pioneer Square, was purchased by Pebblebrook Hotel Trust for $127 million. In 2013, the hotel was operating at 88 % occupancy, with an average daily rate of $193, making it a rate leader in the Portland market. This is the third hotel investment by Pebblebrook in Portland’s central business district.
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For more details about this acquistion read the article: Hotel Online Pebblebrook Aquires Nines Hotel Portland