CooperWynn Capital has closed financing with a regional bank for Palihotel Seattle, a 96-guestroom boutique hotel in downtown Seattle. The hotel is located across from Pike Place Market and near the Elliott Bay waterfront.
The transaction was arranged on behalf of the hotel's ownership group and includes initial funding with the potential for additional future financing tied to the property's operating performance. The structure is designed to provide ownership with added capital as performance milestones are achieved.
“This marks the second financing deal we have completed for this ownership group in the past year, following our work arranging bridge financing for the DoubleTree by Hilton Dayton/Fairborn conversion,” Marc Sallette, principal, CooperWynn Capital, said in a statement. “Having an established relationship allowed us to quickly understand ownership’s objectives for Palihotel Seattle and identify a financing solution that provides both immediate capital and additional flexibility to support the property’s long-term business plan."
Palihotel Seattle is a contemporary boutique hotel with The Hart and The Hunter, an Americana restaurant and bar, as well as a coffee bar and lobby lounge. The property is part of the Pali Hotels collection, which also includes hotels in San Francisco and Santa Monica, Calif.
Located near Pike Place Market and the Elliott Bay waterfront, the hotel offers convenient access to the Seattle Convention Center, the central business district and the city's waterfront attractions.