Portland’s Heathman Hotel Sells for $45M
Pebblebrook Hotel Trust has sold its second Portland, OR hotel in the last 5 months with the disposition of the 151-room Heathman Hotel on S.W. Broadway for $45 million. The buyer in the transaction was not disclosed. Maryland-based Pebblebrook also sold the 117-room Kimpton Hotel Vintage in September for $33 million.
According to the Portland Business Journal, once the Heathman sale closes in early 2023, Pebblebrook will only have two hotels left in Portland, the Nines and Hotel Zags. The firm’s CEO Jon Bortz has expressed frustration with the city in the past due to protests that got out of control.
The Heathman Hotel is located right by the Arlene Schnitzer Hall in the downtown area, adjacent to South Park Blocks, just east of Interstate 405 and north of Portland State University