JLL’s Hotels & Hospitality Group has successfully arranged a $29.5 million refinancing for The Maxwell Hotel, a boutique hotel with 139 rooms located in Seattle’s Queen Anne neighborhood. The borrower, Staypineapple, was represented by JLL and secured the loan through a regional credit union for a fixed rate over 10 years. Leading the deal were Managing Director Adrienne Andrews and Analyst Jessica Mehra from JLL’s Debt Advisory team.
Built in 2010, this five-story hotel offers modern amenities such as spacious guest rooms, an indoor pool and fitness center, on-site restaurant and bar as well as meeting space spanning over 1,600 square feet. Located at 300 Roy Street near popular attractions like Seattle Center and Space Needle along with Climate Pledge Arena.
According to Andrews: “The Maxwell Hotel presented an excellent opportunity for financing due to its strong cash flow potential combined with its prime location and experienced ownership.” She added that there was high interest from lenders who were attracted to the property’s consistent performance record along with Seattle’s resilient lodging market fundamentals.
This news originally appeared on Connect CRE.
