Watson Farley & Williams (“WFW”) has advised Ennismore International Management Ltd. (“Ennismore”) on the acquisition of the former Grove Hotel in the “Old Town” section of Portland, Oregon, USA, from an investment group led by Naito Development, Eagle Point Hotels and Filament Hospitality.
The property, which occupies the block immediately west of the city’s iconic Chinatown gateway, will be developed into a 113 room boutique hotel with a rooftop restaurant and basement bar, to be operated under Ennismore’s Hoxton hotel brand. The Hoxton brand is best known for its flagship property in East London’s Shoreditch neighborhood and a location in Paris’s Second Arrondissement, among others. The Hoxton, Portland, which is slated to open in the summer of 2018, will join the soon to open The Hoxton, Williamsburg (in Brooklyn, New York), as the brand’s first entries into the U.S. market.
WFW will continue to advise Ennismore on development, management and operational matters related to the Portland project going forward, as well as on other recent acquisitions in San Francisco, Chicago, Los Angeles and Williamsburg.
The WFW real estate and corporate team advising Ennismore in the U.S. is led by Partners Jeffrey Lampiasi and Steven Hollander, assisted by Counsel Todd Johnson and Jeffrey Rendin and Associate Stephanie Edelstein. A WFW team in London, led by Partner Felicity Jones, advises Ennismore on European matters.
Jeffrey commented: “I’m delighted that Ennismore has chosen WFW to advise them on their exciting expansion in the U.S. The Hoxton, Portland will be a key component to the revitalization of Portland’s Old Town/Chinatown neighborhood and we look forward to our further involvement on this and other Hoxton projects.”
Ennismore CFO Charles Oakshett added: “The members of the WFW team, led by Jeffrey Lampiasi, were not only a pleasure to work with, but provided invaluable advice and worked tirelessly to achieve a successful outcome to this transaction. We were pleased to be supported by a team with their level of real estate expertise, and I would have no hesitation in recommending them to others.”