NBP Capital and Provenance Hotels to Develop New Downtown Portland Hotel

150 150 Daniel Fountain
  • 0

NBP Capital, a privately held Portland-based investment real estate fund with a market value of $200 million, and Provenance Hotels, a hotel owner and management company based in Portland, have partnered to purchase two adjacent historic buildings in downtown Portland with plans for a $30 million renovation that will create a 150 room lifestyle hotel. NBP Capital is the majority partner in project and, Arthur Mutal, a development company based in Portland, has invested alongside NBP and Provenance Hotels. Provenance Hotels will manage the hotel when it opens in 2016.”We are thrilled to partner with Provenance Hotels on a new type of hotel experience in Portland that celebrates the historic attributes of both the Cornelius and the Woodlark and incorporates contemporary elements to create a destination not just for visitors, but for the local community alike,” said Lauren Noecker Robert, Managing Member of NBP Capital. “With Provenance’s long track record of success and innovation in the hospitality sector, and our collective expertise in the market, we are confident this project will be a tremendous success.”

“Coming right on the heels of our successful launch of Sentinel in spring 2014, this continued expansion here in our company’s hometown underscores our commitment to and belief in the downtown Portland market,” added Gordon Sondland, Founder and CEO of Provenance Hotels. “Choosing projects like the Woodlark and Cornelius buildings is a direct result of our passion for renovating historic buildings and bringing them back to life.”

“This is the first if several exciting projects we are working on with NBP. It’s always refreshing to partner with like-minded people in hand-crafting the kind of unique destinations we have become known for,” added Bashar Wali President and Principal of Provenance Hotels. “We are already working on assembling a lineup of Portland’s finest artisans to create another truly authentic Portland experience.”

The adaptive reuse will connect the Woodlark Building, built in 1912 and located on the corner of SW Alder and SW Park in downtown Portland, with the adjacent former Cornelius Hotel, built in 1908, and have space for two leased food and beverage outlets. The partners are exploring options for restaurant and bar partners by tapping into Provenance Hotels’ extensive network in Portland and beyond. The purchase of the properties, which are both listed on the National Register of Historic Places, is the first joint acquisition by NBP Capital and Provenance Hotels. It marks a significant expansion into the hospitality sector for NBP Capital, which owns more than 1,500 apartments and 350,000 sq. ft. of commercial assets across forty properties.

R&A Architecture & Design, Inc., Freier Architekt and MCA Architects will oversee architecture on the project. Interior design will be done by Staicoff Design Company of Portland. When completed, the project will be Provenance Hotels’ fifth hotel in Portland. The company owns the Westin Portland and owns and manages Portland’s Hotel Lucia, Hotel deLuxe and Sentinel as well as Hotel Max and Hotel 1000 in Seattle, Hotel Murano in Tacoma, Wash., and Hotel Preston in Nashville, Tenn. Provenance Hotels will also open the Old No. 77 Hotel & Chandlery in New Orleans in spring 2015.

Daniel Fountain / 17.02.2015

Editor, Hotel Designs

Share

  • 0

Fun fact: I’m usually the person friends rely on to organise trips, schedules, and group plans.

Workhighlights: Successfully coordinating events from planning through to delivery and seeing everything come together on the day.

Fun fact: I’m a keen cyclist and will happily bore people with copious amounts of cycling chat. My top cycling experience (so far) would have to be riding in the spectacular mountains of Crete.

Work highlights: Charles joined Forum Events in 2022. With a background in publishing, editorial media and events, Charles brings a wealth of experience to his role as Senior Production Manager. Having being involved with SPACE from the outset, he is excited to see the brand grow and develop.

Fun fact: People tell Sienna she gives off Bridget Jones vibes, and she loves to bake, always making sure there are shortbreads floating around the office

Work highlights: Sienna joined Forum Events & Media Group while studying Communications and Media, starting in the sales team where she managed and helped launch the first the PA Life Leading Venues of London SHOWCASE, where she built relationships with luxury venues across the capital. Drawn to the stories behind these spaces, she naturally transitioned into the editorial team, creating social media and editorial content. Upon graduating in June 2026, she is excited to be joining as Assistant Editor for Hotel Designs and SPACE.

Fun fact: When not working, Jess can usually be found tending to her kitchen garden in the Sussex countryside or foraging for herbs in the nearby woods. A keen grower, she recently studied a RHS Level 2 Diploma in the Principles of Horticulture during her spare time.

Work highlights: Jess joined SPACE magazine in 2022 and has since progressed from Assistant Editor to Editor. During this time, she has worked across many aspects of the publication – from shaping editorial strategy and overseeing operations to contributing to art direction and representing the brand on stage at industry events including Surface Design Show and WOW!house.

Alongside her role at SPACE, Jess has built a creative career spanning the arts, culture, design and travel sectors. Prior to joining the magazine, she spent more than a decade in the commercial art industry, in artist liaison, gallery management, and curating collections for the hospitality sector across hotels and cruise ships. During this time, she also worked on freelance projects as a writer, photographer, and creative content producer.
 
Jess studied photojournalism at London College of Communication and the Danish School of Media and Journalism and holds a first-class BA (Hons) in Culture, Criticism and Curation from Central Saint Martins.

Fun fact: Katy has spent years perfecting all kinds of accents and loves a good impersonation!

Work highlights: Katy has been with Hotel Designs since the beginning, way back in 2015 when Forum Events & Media Group acquired the brand.

During this time, she has fostered many meaningful relationships with clients from across the hospitality spectrum, as well as playing a pivotal role in the launch of The Brit List Awards, Hotel Designs MEET UPs, client-led roundtables and panel talks, brand and website redesigns, HD Wellness Sets, DESIGN POD podcast, Hotel Designs LIVE panel talk series, Accessible Design Talks and more. Katy is always on the lookout for the next opportunity to help grow the Hotel Designs brand even further.
 
Most recently Katy has stepped in to the role of Publisher at SPACE magazine, the printed bi-monthly publication focused on hotel design, architecture, and development.

Together these platforms offer a comprehensive 360-degree service encompassing digital media, print publishing, and live events – providing unparalleled value to advertisers, partners, and readers alike.