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Seattle & Northwest  + Portland  + Finance  | 
Canyon Partners provided a $47.4-million bridge loan for Hotel Vance, the hotel portion of the Broadway Tower mixed-use in Portland, OR

BPM Secures $47M Bridge Loan on Downtown Portland Hotel 

Canyon Partners Real Estate LLC provided a $47.4-million bridge loan to an affiliate of BPM Real Estate Group for the recapitalization of Hotel Vance, a recently constructed 180-key upscale hotel in downtown Portland, OR. The bridge loan transaction was facilitated by Malcolm Davies and Zack Streit with George Smith Partners. 

Formerly branded as a Radisson Red, Hotel Vance re-opened in June 2021 as a Marriott Tribute Portfolio hotel. It’s under new management with Crescent Hotels & Resorts, a nationally recognized operator of more than 100 hotels and resorts throughout the U.S. and Canada. 

Located adjacent to Portland State University, the hotel is one component of Broadway Tower, a 19-story LEED Gold-Certified high-rise developed by BPM and completed in 2018. Broadway Tower’s office component is currently fully leased to tenants including Amazon and Markowitz Herbold and was sold in 2020 for approximately $132 million. BPM continues to control the hotel condo.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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