Saturday, August 5, 2017

HFF arranges $80 million refinancing for mixed-use hotel and residences in downtown Seattle, WA

Thompson Seattle Hotel and Sequel Apartments, Seattle, WA

SAN FRANCISCO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged an $80 million refinancing for the Thompson Seattle Hotel and Sequel Apartments, a recently completed, two-building, 183,486-square-foot, mixed-use property comprising 158 hotel rooms and 93 residential units in downtown Seattle, Washington.

HFF worked on behalf of the borrower, a joint venture between Geolo Capital and their local development partners, Douglas Howe and Shawn Parry, to place the floating-rate bridge loan with PCCP, LLC.  Loan proceeds are being used to refinance the existing construction loan.

Designed by Olson Kundig Architects and completed in June 2016, Thompson Seattle Hotel was named the 2016 NAIOP Hospitality Development of the Year. 

Bruce Ganong
The 100,906-square-foot luxury boutique hotel’s guestrooms have floor-to-ceiling windows that either overlook Pike Place Market or across Puget Sound. 

The hotel features 3,000 square feet of meeting space; a state-of-the-art fitness center open 24 hours and overlooking 1st Avenue; and two restaurant and beverage options, Scout and The Nest rooftop bar, lounge and terrace, which was named “Best Rooftop Bar in Seattle” by The Seattle Times.

 Additionally, two retail tenants, Seleuss Chocolate and Tokyo Smoke, occupy ground-floor retail space. 

The Sequel offers one- and two-bedroom units in addition to penthouse suites.  Community amenities include a concierge, housekeeping, fitness center, rooftop deck, 24-hour valet and a variety of a la carte services, including personal shopping, catering, airport pick-up, secretarial services, in-residence spa treatment, personal trainers, laundry, equipment rental and room service.  Residents also receive VIP access to the Thompson Seattle’s restaurant and rooftop bar.

The Thompson Seattle is located at 110 Stewart Street, with the Sequel located at 1900 1st Avenue in downtown Seattle, one block from Pike Place Market in the heart of the Pike and Pine retail core. 

The property has a Walk Score® of 99, making it a “Walker’s Paradise,” and is within walking distance to Westlake Center, Pacific Place and flagship stores for both Nordstrom’s and REI.
The HFF debt placement team representing the borrower was led by senior managing director Bruce Ganong.

“The competition among lenders for this financing opportunity was very strong, and the outcome was a testament to the quality of sponsorship and the truly unique property they developed,” Ganong said.
For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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