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Updated: Lake Oswego company acquires two hotels

By: Chuck Slothower//July 24, 2019//

Updated: Lake Oswego company acquires two hotels

Chuck Slothower//July 24, 2019//

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A Lake Oswego-based group has purchased two hotels from an institutional seller.

BHG Hotels, whose president and CEO is Bakulesh “Buggsi” Patel, completed the purchase of an 80-room DoubleTree by Hilton hotel in Salem.

The hotel is located on 1.48 acres at 1590 Weston Court N.E., off of Interstate 5. The property is approximately 2.5 miles from downtown Salem and the state Capitol.

The hotel was built in 1997 and converted to a DoubleTree in 2012. Amenities include two meeting rooms totaling 1,500 square feet, an outdoor swimming pool and the Press NW Bistro and Bar.

Terms of the deal were not disclosed, and the sale was not yet posted online by the Marion County Assessor’s Office.

The former owner was listed in Marion County records as a limited liability company, PIH Salem, which listed as a member another LLC with an address in Boca Raton, Florida.

The second hotel BHG purchased was a 123-room Homewood Suites by Hilton in Beaverton. It has one- and two-bedroom guest rooms averaging 482 square feet.

This hotel’s location, at 15525 N.W. Gateway Court in the Sunset Highway corridor, is close to Nike and Columbia Sportswear headquarters.

The sale price was not disclosed, and was not yet available from Washington County records. The Beaverton property previously sold for $10.5 million in 2001.

Jones Lang LaSalle‘s capital markets team marketed both properties on behalf of the seller. was led by senior managing director Scott Hall, associates Aaron Lapping and Blake Malecha and senior director Nick Kassab.

The deals were secured by Holliday Fenoglio Fowler prior to JLL’s acquisition of on July 1, according to a news release.

For the Beaverton transaction, JLL arranged a 10-year fixed-rate acquisition loan from American Real Estate Capital of Coral Gables, Florida, which is led by senior managing director David Nigro.

The JLL capital markets team representing BHG Hotels included managing director Casey Davidson and Lapping.



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