August 9, 2017 Comments Off on $80M Refi Retires MXU Construction Loan Views: 723 National News, Washington, West

$80M Refi Retires MXU Construction Loan

PCCP LLC provided an $80 million senior loan to a joint venture that developed a mixed-use project consisting of the 155-key Thompson Seattle Hotel and the 93-unit Sequel Apartments in downtown Seattle, WA. The financing retired a construction loan on the project, which was completed in summer 2016.

The project was developed by Geolo Capital, as well as Douglas Howe and Shawn Parry, former principals with Touchstone. The development represents the first Thompson-branded hotel in the Pacific Northwest. The hotel is at 110 Stewart St., while the residential component is at 1900 First Ave., one block away from Pike Place Market.

“The Sequel Apartments and Thompson Seattle Hotel are well positioned as core apartments and a luxury-boutique hotel in a strong hospitality market,” said PCCP’s Dorian Farhang. “With an exceptional downtown Seattle location, the property will serve the needs of discerning users from both hospitality and residential perspectives.”

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