JLL Arranges Sale of 161-Room Crowne Plaza Hotel in Lake Oswego, Oregon
LAKE OSWEGO, ORE. — JLL has brokered the sale of Crowne Plaza Portland-Lake Oswego, a full-service hotel located at 14811 Kruse Oaks Drive in Lake Oswego. BHG Hotels, an owner, developer and operator in the Pacific Northwest, purchased the asset for an undisclosed price.
Situated 10 miles south of Portland, the six-story hotel features 161 guest rooms, 5,670 square feet of meeting and event space, Oswego Atrium Restaurant & Bar, a 24-hour business center, 24-hour fitness center, indoor/outdoor pool and IHG Wellness Center with for-purchase snacks and refreshments. Opened in 1989, the hotel underwent a comprehensive renovation in 2018.
Melvin Chu of JLL Hotels & Hospitality team represented the undisclosed seller in the deal. Casey Davidson and Aaron Lapping of JLL Capital Markets debt placement team arranged a floating-rate loan with First Interstate Bank for the buyer.