The Best Western Plus near Westfield Vancouver mall has sold for $4.6 million to Virk Properties, a California-based hotel investment company. The 75-unit facility was sold by longtime owner Patco Investment Inc. The property is located in close proximity to seven other hotels at 9420 N.W. Vancouver Mall Drive, off state Highway 500 near its junction with Interstate 205.
The Bay Area buyer is an investment firm that has moved its operations to Oregon and Washington to invest in lodging properties after seeing positive trends in regional tourism. The Best Western Plus is the company’s first purchase in Washington and the company is actively looking for more opportunities, according to a written statement released by Portland-based Sperry Van Ness/Bluestone & Hockley commercial real estate firm. Company representative and broker Brian Resendez brokered the hotel transaction, representing both buyer and seller.
