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Distressed Waterfront Hotel in Downtown Portland Sells for $30M
The Portland Marriott Downtown Waterfront hotel at 1401 S.W. Naito Pkwy. was purchased by Portland Waterfront Hotel Acquisition LLC, an entity tied to New York-based asset manager Sculptor Capital Management for $30 million.
The 15-story hotel opened in 1980 and features 506 rooms as well as 40,000 square feet of convention and banquet facilities, reported the Portland Business Journal. The hotel is across the street from the Hawthorne Waterfront Park overlooking the Willamette River.
The hotel is managed by Marriott through a long-term management agreement with former owner AB/DCP Portland Hotel Property Owner, LLC—an entity connected to DiNapoli Capital Partners. DiNapoli acquired the hotel in 2013 for $82.7 million. Bank of America loaned DiNapoli $71 million in 2018 to refinance the firm’s prior loan. DiNapoli stopped making payments in February 2024. Doug Wilson Companies was appointed as a receiver. The hotel was also listed for sale in early 2025 with CBRE and Douglas Wilson Companies co-brokering the property.
