McNeill Hotel Investors Acquires Hilton Garden Inn Beaverton
McNeill Hotel Investors ("McNeill") announced today the acquisition of the 4-story, 150-room Hilton Garden Inn Beaverton, adding to the company's growing portfolio. The announcement was made by Phillip McNeill, Jr., the company's Chief Executive Officer.
The Hilton Garden Inn Beaverton is ideally located adjacent to Highway 26 / Sunset Corridor, which is directly within the "Silicon Forest" of Beaverton, Oregon.
The select-service hotel has four meeting rooms totaling 2,070 square feet of space; a fitness center and indoor pool; Charley's on Sunset, serving breakfast and dinner; and the Pavilion Pantry Market.
The city of Beaverton is within Washington County, just seven miles west of downtown Portland in the Tualatin River Valley. It is Oregon's sixth largest city, home to more than 95,000 residents. The city has been ranked in Money Magazine's Best Places to Live, as it continues to draw corporate demand from both inside and outside the state.
Additionally, construction is underway for a 92,000 square foot Event Center to be located at the Washington County Fair Complex, which is within six miles of the hotel.
"We are proud to add a second Hilton Garden Inn to our growing hotel portfolio and to operate in a new state for us," McNeill said. "We have great experience overall with Hilton as a valued brand partner and look forward to working with them on this property."
"This recently renovated hotel has seen more than $3.4 million in capital upgrades, and we will continue to improve both the rooms and public space," said Mark Ricketts, the company's President and Chief Operating Officer, adding that "The excellent demand drivers for this property include Beaverton's tech industry and industrial space within the Sunset Corridor, and Intel has nearly 20,000 employees nearby in Hillsboro."
The acquisition by McNeill Hotel Investors was facilitated by capital recently secured by McNeill through New York-based Almanac Realty Investors LLC.
McNeill Hotel Investors and McNeill Hotel Company now own and manage 21 select service hotels across the Southeast, the Midwest and Western States, with several additional properties in the acquisition and development pipeline.