Hotel Modera in Portland, Ore., Hotel Sold for $47.5 million
The Pebblebrook Hotel Trust has acquired the 147-room Hotel Modera in Portland, Ore., for $47.5 million. The property now will be managed by OLS Hotels and Resorts. Built in 1962, the luxury hotel completed a $13 million renovation in 2008. Features include 2,000 square feet of meeting space in three meeting rooms, an additional 600 square feet of space in two private dining rooms and the Nel Centro Italian restaurant.