Hotels only · No pay-to-rank · Advice first; verified when attested
Public tape · 87 of 282 · 2023
Pebblebrook sold The Heathman Hotel in Portland on February 22, 2023 for $45.0 million. Harbor PPK is $45.0 million ÷ 151 from Pebblebrook’s close IR — the sale 10-Q names the dollar and the day, not keys. Pebblebrook’s 10.7x / 8.4% 2019 lines are Pebblebrook’s narrative, not a second hotel price. Buyer unnamed. Not Kimpton RiverPlace and not a waterfront palace. The Westin Michigan Avenue retail parcel stays off this tape. Older than the 2025–26 blotter cut.
$45.0M
Cited consideration · 151 keys · $298k / key
Pebblebrook 10-Q: $45.0 million for The Heathman Hotel, Portland. Closed February 22, 2023. Keys (151) from Pebblebrook IR. Downtown independent — not a waterfront palace PPK.
Historical cited · 2023 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
Deal FrameLiving packetLabeled estimateCompare this tape2023 cited corpus2023 cited filings
Source
Pebblebrook Hotel Trust Form 10-Q, quarter ended September 30, 2023 (closed February 22; keys: Pebblebrook IR 151-room)
https://www.sec.gov/Archives/edgar/data/1474098/000147409823000156/peb-20230930.htmEstimate ↔ tape
Cited consideration on the left. Harbor’s labeled defaults on the right. A gap is a question, not a bid. Portfolio tapes and seller paper stay footnoted. Not an appraisal.
$298,013 / key · 151 keys
$265,249 / key · Harbor defaults
Portland · worksheet vs tape PPK
Pebblebrook 10-Q: $45.0 million for The Heathman Hotel, Portland. Closed February 22, 2023. Keys (151) from Pebblebrook IR. Downtown independent — not a waterfront palace PPK.
Historical cited · 2023 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
The house
Worksheet, not an appraisal. Shock cap ±50 bps and ADR ±10% before you treat any number as a bid.
Portland · Upper upscale
151 keys · Portland · The Heathman
Downtown Portland, Oregon independent. Pebblebrook sold the 151-key house on February 22, 2023 for $45.0 million (2023 10-Q; keys from Pebblebrook IR). Buyer unnamed. Not Hotel Vintage Portland $32.9 million (2022), not Kimpton RiverPlace, not Apple’s 2021 Pearl District Hampton $75.0 million tape, and not Apple’s 2021 Portland, Maine AC or Aloft tapes.
Same house or same market · 1
Same hotel first, then the same market and segment. Structure footnotes stay on the tape. This is not a paid comps service.
Kimpton RiverPlace Hotel · 85 keys · Upper upscale
Consideration
$11.0M
$129k / key
Xenia 10-Q: $11.0 million for the 85-room Kimpton RiverPlace Hotel. Waterfront boutique — exclusive of significant near-term capex. Not a downtown independent PPK.
Xenia Hotels & Resorts Form 10-Q subsequent event (closed July 21, 2026)
Xenia closed the 85-room Kimpton RiverPlace Hotel on July 21, 2026 for a sale price of $11.0 million. Harbor PPK is $11.0 million ÷ 85 (Xenia rounded $129,400). Use the $11.0 million sale price, not the $10.3 million net cash after costs. Xenia’s 19.4x / 2.0% TTM lines are exclusive of significant near-term capex — that is Xenia’s narrative, not a second price. The $38.8 million impairment is Xenia’s accounting, not a hotel price. Buyer unnamed in the filing.