It appears that the troubled Nines Hotel has found a buyer.
The Nines hotel had been in financial straits this week until the Portland Development Commission decided to accept an $11.5 million buyout on $18.2 million in debt. The hotel's management company, Sage Hospitality, had told the Oregonian that another publicly traded company was planning to take over the Nines, but would not disclose that company's identity.
From this OLCC filing, it would appear that Pebblebrook Hotel Trust—who recently acquired like-minded Portland boutique Hotel Modera for $47.5 million—is the suitor for the hotel. Pebblebrook also owns Vintage Plaza, and 26 other hotels nationwide.
Neither current Nines owner Sage Hospitality, nor Pebblebrook Hotel Trust, have returned calls for comment.