Interwest Capital Corporation is pleased to announce the acquisition of the Hilton Garden Inn Hotel in Lake Oswego, Oregon. Interwest is excited to have engaged Evolution Hospitality, a leader in the hospitality sector, as management of the hotel, adding another asset to their expanding relationship.
The Hilton Garden Inn was originally constructed in 2000 in the highly affluent Portland suburb of Lake Oswego and underwent a room renovation in 2005 and a lobby renovation in 2013. The Hilton Garden Inn is one of only 3 hotels located within the 2.3m square foot Class A Kruse Way Business Park, and walking distance from Seven of Lake Oswego’s Top Ten Largest Employers. “We are excited about our first acquisition within the greater Portland area, and more specifically the tightly held Lake Oswego market. Interwest as a company has long targeted this submarket of Portland and this hotel represents a unique opportunity for Interwest to make a long term investment in a market leading asset, that we feel will only improve through the insertion of Evolution Hospitality Management and the upcoming room renovation in 2016” said Chris Meredith, Director of Acquisitions for Interwest Capital Corporation. “The hotel’s strategic location in the heart of the Kruse Way Business Park and easy access off the I-5 HWY, makes this property the most attractive option in the area for corporate accommodations and leisure travel alike,” he added.
The 179-room Hotel offers well-appointed guest rooms, 1,200 sf of meeting facilities, a fitness studio, a business center, and a variety of food and beverage options with the Garden Grille restaurant and the Pavilion Pantry convenience mart. An approximate $3m take-over Property Improvement Plan will be implemented in 2016 with a specific focus on the latest V 8.0 Hilton Garden Inn guestroom experience.
About Interwest Capital Corporation
Interwest Capital is a private equity firm specializing in the acquisition, operation, and repositioning of commercial real estate with an emphasis on multifamily and hospitality assets. With a national portfolio valued at around $1 billion, Interwest has become an industry leader through extensive experience restructuring significantly underperforming assets and has a strong track record of successfully repositioning historic properties. Interwest now owns five hotels with more than 1,000 hotel rooms across the United States.
For more information about Interwest Capital, please call 858-622-4900 or visit www.interwestcapital.com.
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