SPRINGHILL SUITES PORTLAND HILLSBORO SELLS FOR $24M

PORTLAND, ORE. — RLJ Lodging Trust has purchased the 106-room SpringHill Suites Portland Hillsboro for $24 million. The hotel is located at 7351 NE Butler Street near Intel’s Ronler Acres campus. It underwent a major renovation in 2011. Al Calhoun, Mark Fraioli and Melvin Chu of Jones Lang LaSalle represented the seller, an entity consisting of affiliates CPA:17 – Global; a publicly held, non-traded REIT affiliate of W. P. Carey Inc.; Watermark Capital Partners, LLC; and Montclair Hotel Investors, Inc