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Hotel Eastlund, BW Premier Collection 1021 NE Grand Ave 168 Room Hotel Portland, OR 97232 For Sale
Investment Highlights
- Prime location adjacent to the Oregon Convention Center in Portland’s Lloyd District
- Flexible branding options: independent, soft brand, or full rebrand
- Multiple food and beverage outlets, meeting space, and structured parking enhance guest experience
- Offered unencumbered by management and debt, enabling a seamless repositioning strategy
- Comprehensive $37 million renovation completed in 2015, ensuring institutional-quality infrastructure
- CMBS loan assumption opportunity with favorable leverage and terms
Executive Summary
This 168-room, full-service boutique hotel offers an exceptional opportunity to acquire an institutional-quality hospitality asset in one of Portland’s most strategic locations. Situated directly adjacent to the Oregon Convention Center in the vibrant Lloyd District, the property benefits from strong demand drivers including convention traffic, corporate business, and leisure travelers.
The hotel underwent a comprehensive $37 million renovation in 2015, resulting in a modern physical plant with multiple food and beverage outlets, meeting space, and structured parking. Offered unencumbered by management and debt, the asset provides a clean slate for repositioning under an independent flag, soft brand, or full rebrand strategy.
Investors will appreciate the flexibility of a CMBS loan assumption opportunity with high leverage and attractive in-place debt, as well as the ability to capitalize on Portland’s stabilizing hospitality market. With its irreplaceable location, institutional infrastructure, and compelling basis relative to historical valuations and replacement cost, this property represents a rare chance to unlock significant operational and strategic upside.
The hotel underwent a comprehensive $37 million renovation in 2015, resulting in a modern physical plant with multiple food and beverage outlets, meeting space, and structured parking. Offered unencumbered by management and debt, the asset provides a clean slate for repositioning under an independent flag, soft brand, or full rebrand strategy.
Investors will appreciate the flexibility of a CMBS loan assumption opportunity with high leverage and attractive in-place debt, as well as the ability to capitalize on Portland’s stabilizing hospitality market. With its irreplaceable location, institutional infrastructure, and compelling basis relative to historical valuations and replacement cost, this property represents a rare chance to unlock significant operational and strategic upside.
Property Facts
| Sale Type | Investment | No. Rooms | 168 |
| Property Type | Hospitality | No. Stories | 6 |
| Property Subtype | Hotel | Year Built/Renovated | 1963/2015 |
| Building Class | B | Parking Ratio | 0.46/1,000 SF |
| Lot Size | 0.87 AC | Corridor | Interior |
| Building Size | 88,863 SF | Opportunity Zone |
Yes
|
| Zoning | CXD | ||
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.87 AC |
| Building Size | 88,863 SF |
| No. Rooms | 168 |
| No. Stories | 6 |
| Year Built/Renovated | 1963/2015 |
| Parking Ratio | 0.46/1,000 SF |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | CXD |
Amenities
- Business Center
- Fitness Center
- Restaurant
- High Speed Internet Access
- Patio
- On-Site Bar
- Boutique/Lifestyle Hotel
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 12 | $264.00 | - |
| Guest Room | 156 | $209.00 | - |
Walk Score®
Walker's Paradise (91)
Transit Score®
Excellent Transit (82)
Bike Score®
Biker's Paradise (98)
Property Taxes
| Parcel Number | R182144 | Improvements Assessment | $10,461,420 |
| Land Assessment | $4,560,000 | Total Assessment | $15,021,420 |
Property Taxes
Parcel Number
R182144
Land Assessment
$4,560,000
Improvements Assessment
$10,461,420
Total Assessment
$15,021,420
Contacts
-
Joseph Cuomo -
Bennett Webster -
Brent Clemens -
Adam Montufar -
Alchemy Real Estate Advisors, LLC
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Hotel Eastlund, BW Premier Collection | 1021 NE Grand Ave
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