{"id":1004209468,"date":"2018-03-07T19:46:35","date_gmt":"2018-03-08T03:46:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004209468"},"modified":"2022-12-08T23:54:40","modified_gmt":"2022-12-09T07:54:40","slug":"union-investment-buys-149m-portland-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/union-investment-buys-149m-portland-hotel\/","title":{"rendered":"Union Investment Buys $149M Portland Hotel"},"content":{"rendered":"<p>By Evelyn Jozsa<\/p>\n<div id=\"attachment_1004209472\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Porter-Portland_01.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004209472\" data-attachment-id=\"1004209472\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/union-investment-buys-149m-portland-hotel\/full-page-photo\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Porter-Portland_01.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;lshaw&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;Full page photo&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"The Porter\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Porter&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Porter-Portland_01.jpg?w=800\" class=\"size-medium wp-image-1004209472\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Porter-Portland_01.jpg\" alt=\"The Porter\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Porter-Portland_01.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Porter-Portland_01.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Porter-Portland_01.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004209472\" class=\"wp-caption-text\">The Porter<\/p><\/div>\n<p>Hamburg-based Union Investment has purchased The Porter, a 294-key boutique and lifestyle hotel in Portland, Ore., for approximately $149 million (EUR 120 million). The acquisition was made on behalf of open-ended real estate fund, Unlimmo: Global. The hotel is part of the Curio Collection by Hilton brand, and Widewaters Hotel LLC is the developer, vendor and operator of the property. The acquisition marks Union Investment\u2019s sixth <a href=\"https:\/\/www.commercialsearch.com\/news\/german-investor-to-buy-120m-dc-hotel\/\">hotel acquisition in the U.S.<\/a><\/p>\n<p>At the intersection of SW 2<sup>nd<\/sup> Ave. and SW Columbia St., The Porter is located in downtown Portland, the city\u2019s central business district. The Porter is a 16-story building,\u00a0with 13 floors of\u00a0guest rooms. The hotel also features a restaurant, a coffee bar and a grab-and-go market, as well as a rooftop restaurant with a lounge. Additional amenities include approximately 12,916 square feet of conference space, heated indoor pool and fitness center with individual meditation and yoga rooms.<\/p>\n<p><em>\u201cWith its high construction quality, exceptional high-end accommodation concept and excellent location in Portland\u2019s business district, The Porter is the ideal addition to our U.S. portfolio, which is set to grow at a similar pace going forward as in recent years,\u201d<\/em> said Andreas L\u00f6cher, head of investment management hospitality at Union Investment, in prepared remarks.<\/p>\n<p><em>Image courtesy of Union Investment<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Germany-based firm has acquired The Porter, a 294-key hotel, located in the city&#8217;s central business district. The acquisition marks the company\u2019s sixth property in the U.S. <\/p>\n","protected":false},"author":871,"featured_media":1004209472,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21751,21742,28440,15],"tags":[32980,32805,35391,38324],"class_list":["post-1004209468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-hotel","category-latest","category-portland","category-west","tag-curio-by-hilton","tag-hilton","tag-union-investment","tag-widewaters-hotels"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Union Investment Buys $149M Portland Hotel - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/union-investment-buys-149m-portland-hotel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Union Investment Buys $149M Portland Hotel\" \/>\n<meta property=\"og:description\" content=\"The Germany-based firm has acquired The Porter, a 294-key hotel, located in the city&#039;s central business district. 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