Hilton Hotels Corporation (NYSE:HLT) announced that it has sold the 782-room Hilton Portland & Executive Tower in Oregon to CHIEF Portland Hotel LLC on behalf of an institutional investor for approximately $83.8 million.
Cornerstone Real Estate Advisers LLC advised the purchaser on this transaction. The hotel will continue to operate as a Hilton branded property and will be managed by Hilton Hotels Corporation under a long-term management agreement.
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