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Sale of two downtown Portland hotels postponed

The trustee sale of two iconic downtown hotels, including the Hilton Portland Downtown, will take place next month outside the Multnomah County Courthouse.
Credit: Sam Gehrke, PBJ
The trustee sale of two iconic downtown hotels, including the Hilton Portland Downtown, will take place next month outside the Multnomah County Courthouse.

PORTLAND, Ore. — The sale of two prominent downtown hotels will take place next month outside the Multnomah County Courthouse.

The Duniway and Hilton Portland Downtown will go up for sale on the morning of Oct. 6, according to a certificate of postponement read by a crier outside the courthouse. The sale was originally scheduled for Tuesday morning, and a handful of people attended. The reason given for the delay to next month was a "beneficiary's request."

RELATED: Three downtown Portland hotels faced foreclosure

The properties at 921 S.W. Sixth Ave. and 545 S.W. Taylor St. have faced foreclosure. Documents filed with Multnomah County show that more than $277 million was due on obligations related to the properties as of April and a notice of default had been logged. "By reason of said default, the beneficiary has declared all sums owing on the obligation secured by said Deed of Trust immediately due and payable," the documents state.

The postponement announcement said the trustee's sale is meant "to satisfy a non-judicial foreclosure of a Deed of Trust executed by a Delaware limited liability company THI VI Portland Lessee LLC."

RELATED: Building at 'one of the best retail corners' in downtown Portland sold

That company is listed in the Multnomah County documents as the operating lessee, while another one, THI VI Portland LLC, is noted as the borrower.

Hilton manages both hotels and has said they remain open. The Duniway and Hilton Portland Downtown, combined, have the most rooms of any hotel in the Portland area, with 782 guest rooms, according to Business Journal research.

Read the latest about this and other downtown developments at the Portland Business Journal.

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