The Closet That Checks In Before You Do
Located at 411 SE 123rd Avenue, the all-suite Residence Inn Portland Vancouver will operate as a Marriott franchise, owned by Evergreen Hospitality Development Group and managed by Evergreen Hospitality Management of Battle Ground, Washington.
The sales price, inclusive of buyer's estimated anticipated capex of $2.5 million, represents a trailing twelve-month cap rate of 5.9% on net operating income and a 14.3x Hotel EBITDA multiple as of October 31, 2019.
Four Seasons Hotels and Resorts together with developers Carpenter & Company Inc. and Woodward Interests, LLC will open a luxury hotel and Private Residences in downtown New Orleans in late 2020. The property is owned by Two Canal Owner LLC, in which both developers are partners.