NewcrestImage Acquires The Hotel Zags From Pebblebrook Hotel Trust For $10 Million In Portland
515 Southwest Clay Street
$10,000,000
$3,703/SF
Building Size
2,700 SF
Asset Type
Hotel
Closing
Oct 9, 2026
About this deal
AI
This transaction involves the sale of a boutique hotel located at 515 Southwest Clay Street, Portland, OR. The asset features 174 keys and was sold for $10 million. The property was renovated and rebranded in 2019, including a restaurant and 2,700 square feet of meeting and event space, along with lifestyle amenities.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $10,000,000
- Buyer: NewcrestImage
- Seller: Pebblebrook Hotel Trust
- Keys: 174
- Price Per Key: $57,471
NewcrestImage will manage the property in-house following the acquisition. This transaction marks a strategic entry into the Portland market for NewcrestImage, further expanding their portfolio of hospitality investments.
On the Map
$10,000,000
$3,703/SF
Hotel
View full map
Players
Clay Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
Loading comparables…
Deal FAQ
Browse Oregon hotel sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93