January 10, 2020
The Crowne Plaza Portland-Lake Oswego, a 161-room, full-service hotel in Lake Oswego, has traded hands for an undisclosed amount. BHG Hotels, a Pacific Northwest-based hotel owner, developer and operator, purchased the asset, which is the only full-service hotel in Lake Oswego, and consistently ranked in the top 10% in “Overall Experience” of all Crowne Plaza Hotels in the world.
The hotel is situated on 3.09 acres at 14811 Kruse Oaks Dr., adjacent to the 1.8-million-square-foot Kruse Woods Corporate Park and Silicon Forest. Opened in 1989, the six-story hotel completed a comprehensive renovation in 2018 and features such amenities, as 5,670 square feet of meeting and event space, the Oswego Atrium Restaurant & Bar, a 24-hour business center, 24-hour fitness center, indoor/outdoor pool and IHG Wellness Center with snacks and refreshments for purchase.
A JLL Hotels & Hospitality team led by Melvin Chu handled the sale, and JLL Capital Markets also arranged acquisition financing, placing a floating-rate loan with First Interstate Bank.
For comments, questions or concerns, please contact Dennis Kaiser