Seattle & Northwest + Portland + Finance | May 3, 2023

Cambria Hotel in Hillsboro Scores Construction Financing

A joint venture of Palladius Capital Management and Marquee Funding Group has originated an $11.5-million loan to finance the construction of Cambria Hotel Hillsboro, a four story, 115-key asset located at 5523 NE Huffman St. in Hillsboro, OR. The fixed-rate, 24-month loan was provided to sponsors Evergreen Hospitality Development and Fine Hotel Group.

“We are excited to provide this financing to two high quality sponsors who understand the local market exceptionally well and have a sound business plan to own and operate a high performing hotel supported by multiple demand generators,” said Afshin Kateb, CFO and head of hospitality investments at Palladius.

The 22,000-square-foot upscale hotel will be constructed on land owned by Majestic Realty Co. and adjacent to Majestic Brookwood Business Park, a master-planned 118-acre commercial development in Hillsboro’s business sector. Hillsboro, the fifth largest city in Oregon, has been called “Silicon Forest” given the area’s heavy tech presence.

Connect

Inside The Story

Palladius Capital Management

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).

Order Reprints