CBRE Brokers $32.9 Million Sale of Kimpton Hotel Vintage Portland

CBRE announced the $32.9 million sale of the 117-room Kimpton Hotel Vintage Portland to Pacifica Hotels of Aliso Viejo California. Chris Burdett, Matthew Behrens and Aaron Solaimani with CBRE Hotels in the Pacific Northwest represented the seller, Pebblebrook Hotel Trust. 

Originally constructed in the late 1800s, the European-inspired hotel underwent a multimillion makeover in 2015 and 2018 that overhauled the lobby, rooms and amenities. Today, each floor of the hotel is dedicated to a different Willamette Valley American Viticultural Area, and each room is named after a local winery. In addition to the 117 hotel rooms, the property has 8,000 sq. ft. of event space, a street-level restaurant and bar called Il Solito and Bacchus Bar, a private wine cellar, and a game lounge. The hotel’s lobby doubles as a tasting room, and the graffiti art murals have been named among the best in the nation. Conde Nast Traveler has recognized the hotel as a top regional destination. 

“Hotel Vintage Portland is an icon of downtown Portland. The uniquely detailed façade is a focal point of the block and is complemented by the impressively restored interior. Pacifica Hotels is acquiring an irreplaceable property that withstood the test of the pandemic and produced positive cash flow in 2021 and continues to accelerate back to historic levels,” said Mr. Behrens, first vice president, CBRE Hotels. 

The hotel is located in downtown Portland at 422 S.W. Broadway, on the corner of S.W. Broadway and S.W. Washington Street. The hotel is within walking distance of many of the city’s main attractions and most popular eateries. In addition to tourists, the hotel benefits from several demand drivers, including the Downtown Central Business District, the Oregon Convention Center, Portland State University, and the numerous large employers located nearby.