Edgewater Hotel
232-Room Luxury Hotel
This full service boutique luxury hotel was originally constructed in 1962 for the World’s Fair. It is subject to an aquatic lands lease with the DNR. The current 30-year lease term began in 2001. The Sale Comparison and Income Approaches were both used to value this property, with the Income Approach being considered most relevant for the property type.
Seattle
Waterfront
232 rooms
Four-story building constructed
on Piers 67/68
Appraisal of Leasehold Interest
Silver Cloud Hotels
Three-Property Portfolio
Three properties operating as part of the Silver Cloud chain of hotels. Seattle and Bellevue are newer six-story buildings with underground parking. Redmond is a four-story building with surface parking. Redmond was originally constructed in 1984, and underwent a significant expansion in 1997-98.
Seattle, Bellevue, and Redmond
179, 152, and 144 rooms,
respectively
Seattle and Bellevue constructed
in 2004, Redmond in 1984
Appraised for mortgage finacning
Motel 6
70-Room Limited Service Motel
Two-story wood frame motel with good arterial visibility; constructed in 1984. The property was in use as an Econolodge and a Days Inn, before being purchased in 2006 and renovated. It was then reflagged as a Motel 6. As the basis for valuation, the Sale Comparison and Income Approaches were used.
The Dalles, OR
Approximately 80 miles East of
Portland, along SR-84
26,648 sf GBA
Two-acre site