NEW YORK, Feb. 9, 2021 /PRNewswire/ -- The Roxborough Group, LLC, AWH Partners, LLC, and West Point Partners have acquired the Hilton Garden Inn Portland/Lake Oswego. This marks the first hotel acquisition each company has closed since the beginning of the COVID-19 pandemic. The financial terms of the transaction were not disclosed.
"This deal demonstrates our ability to find attractive investment opportunities despite the challenging deal environment," said Chad Cooley, co-founder and managing partner of AWH Partners. "With our team in place, we believe the Hilton Garden Inn Portland/Lake Oswego is well positioned to quickly rebound from the pandemic. It has a lot to offer for both leisure and business travelers visiting the Portland area."
Adjacent to the intersection of Interstate 5 and Highway 217, the busiest intersection in Oregon, the 179-room Hilton Garden Inn Portland/Lake Oswego is within walking distance of a wide range of restaurants; in proximity to Bridgeport Village, an outdoor shopping complex known for its array of exclusive restaurants and boutiques, and Kruse Woods Corporate Park, a 20-building office campus located in Lake Oswego; and a 10-minute drive from Downtown Portland.
"One of the main reasons for investing in this property is its premier positioning in a great submarket," said Marc Perrin, managing partner of The Roxborough Group. "Lake Oswego is an increasingly attractive alternative to Downtown Portland, and this hotel with its recent rooms renovation is the top performing asset in the submarket."
Hilton Garden Inn Portland/Lake Oswego's amenities include complimentary WiFi, an indoor pool, a fitness center, pet-friendly rooms, a business center, free parking and more. The property has nearly 1,225 square feet of event space. There's also an on-site restaurant, The Garden Grille & Bar.
The partnership has additional plans to renovate the property over the next several years, including upgrades to the lobby and public spaces, as well as a new fitness center.
"We are excited to partner with AWH and Roxborough in the acquisition of the hotel," said Sri Sambamurthy, managing principal of West Point Partners. "The combination of an industry-leading brand in an infill submarket with strong demand drivers positions the hotel well for the recovery."
CJ Media Solutions for AWH Partners
SOURCE AWH Partners