CooperWynn Capital, a hospitality-specific debt and equity capital markets specialist, announced today the successful closing of financing with a regional bank for Palihotel Seattle, a 96-key boutique hotel located in downtown Seattle, directly across from Pike Place Market and near the Elliott Bay waterfront.
The transaction, arranged on behalf of the hotel’s ownership group, includes the initial funding with the potential for additional future funding tied to the property’s operating performance, providing ownership with additional 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,” said Marc Sallette, Principal, CooperWynn Capital. “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 featuring The Hart and The Hunter, an Americana restaurant and bar, along with a coffee bar, and lobby lounge. The hotel is part of the Pali Hotels collection, which also includes properties in San Francisco and Santa Monica.
The hotel’s location directly across from Pike Place Market and near the Elliott Bay waterfront provides conveniently access to the Seattle Convention Center, the central business district, and the city’s waterfront attractions.
