PKF Capital Arranges Sale of Springhill Suites in Oregon
Seattle, WA - May 17, 2010 - PKF Capital Seattle has arranged the sale of the 106-room Springhill Suites by Marriott® in Hillsboro, Oregon.
Chris Burdett and Matthew Behrens, from the Seattle office of PKF Capital represented the seller, an Oregon based hotel developer. The buyer was a venture consisting of an affiliate of W.P. Carey and Co. LLC, Watermark Capital Partners, LLC, and Montclair Hotel Investors.
“The offering of the Springhill Suites was one of our more active listings, providing the seller with a number of strong candidates,” said Behrens. “The new owners have a strategic plan to update the property and solidify its position as a preferred corporate address for the likes of Intel and Solar World,” added Burdett.
The all-suite hotel is situated in the epicenter of Oregon's high-tech community, and central to numerous high profile corporate headquarters. The property was built in 2004 by the Seller and consistently achieved a $90+ RevPAR. The property was sold at a 9.33 capitalization rate and solid top-line performance.
About PKF Capital -
PKF Capital provides comprehensive multi-service hotel brokerage to the hospitality industry. PKF Capital was formed in early 2007 as a result of the merger of PKF Consulting and Colliers International Hotels.
PKF Capital was created with the vision of a unique platform to serve our clients in the US hotel investment market. This unique platform for delivery of extraordinary client service begins with a team of experience hotel brokers known for their integrity and local market knowledge. Supporting this team are the PKF Consulting and Hospitality Research divisions, which provide current market data and accurate industry operating results, enabling us to deliver the highest quality documentation and solid results. PKF Capital believes successful transactions will result from solid fundamentals that include strong market knowledge and market trends, realistic and accurate financial projections, and current understanding of the capital market's impact on our industry.
Chris Burdett
(206) 715-9910
chris.burdett@pkfc.com
Matthew Behrens
206) 223-0866
matthew.behrens@pkfc.com
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
