Pebblebrook Hotel Trust Acquires Seattle And Portland Hotels

Posted by Orb Staff on July 10, 2012 No Comments
Categories : Commercial Mortgage

11946_vintage-park-seattle Pebblebrook Hotel Trust Acquires Seattle And Portland Hotels Bethesda, Md.-based Pebblebrook Hotel Trust has acquired the Hotel Vintage Park Seattle for $32.5 million and Oregon's Hotel Vintage Plaza Portland for $30.5 million. Both properties will continue to be managed by Kimpton Hotels & Restaurants.

‘We're thrilled to acquire the Hotel Vintage Park Seattle and the Hotel Vintage Plaza Portland in two major West Coast gateway cities,’ says Jon Bortz, chairman and CEO of Pebblebrook Hotel Trust. ‘These distinctive hotels are supported by superb downtown locations, consistently high occupancy levels and strong positive cashflows.’

Built in 1922, the Hotel Vintage Park Seattle (pictured left) was converted by Kimpton into a hotel in 1992 and features 124 unique guest rooms. The property was named among the ‘Best 500 Hotels in the World’ by Travel + Leisure magazine in 2011. The Hotel Vintage Plaza Portland was built in 1894 and was fully renovated in 2008. Both hotels received four-diamond ratings from the AAA.

(Photo courtesy of SeattleTravel.com.)

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