**Seattle-Area Hotel Portfolio Sells for $42 Million**
Three Sonesta-branded hotels in the Seattle area have been sold for a combined $42 million. The portfolio was acquired by Trimark Hospitality Group from Service Properties Trust in a deal finalized in September.
The purchased properties include the Sonesta Select located at 14615 NE 29th Place in Bellevue, as well as two neighboring hotels in Renton: Sonesta Select at 200 SW 19th Street and Sonesta Simply Suites at 300 SW 19th Street.
Service Properties Trust, a real estate investment trust based in Newton, Massachusetts, originally acquired the hotels in separate transactions in 1995 and 2001, paying a total of $31.6 million at the time.
The 152-room Sonesta Select in Bellevue was developed in 1990 and is situated within a five-mile radius of major destinations including Microsoft’s Redmond campus, Redmond Town Center, and Bellevue Square. The two Renton hotels, developed in 2000, have a combined total of 251 rooms.
Trimark Hospitality Group, the buyer, owns and operates approximately 20 hotel properties across seven states.
