Dealmaker: HFF Secures $160M for Hotel, Apartment and Condominium Assets
Holliday Fenoglio Fowler, Houston, secured $160 million for hotel, apartment and condominium assets in Seattle and New York.
In Seattle, HFF Senior Managing Director Bruce Ganong led the debt placement team that arranged an $80 million refinancing for the Thompson Seattle Hotel and Sequel Apartments. The recently completed two-building, 183,500-square-foot mixed-use property includes 158 hotel rooms and 93 residential rental units in downtown Seattle.
A joint venture between Geolo Capital, San Francisco, and Seattle development partners Douglas Howe and Shawn Parry received a floating-rate bridge loan from PCCP LLC, San Francisco.
PCCP Vice President Dorian Farhang said PCCP’s loan retired the original construction loan on the asset. “The Sequel Apartments and Thompson Seattle Hotel are well positioned as core apartments and a luxuryâboutique hotel in a strong hospitality market,” he said.
Designed by Olson Kundig Architects and completed in June 2016, the 101,000-square-foot hotel’s guestrooms have floor-to-ceiling windows that either overlook Pike Place Market or Puget Sound. Two retail tenants, Seleuss Chocolate and Tokyo Smoke, occupy ground-floor retail space.
The Thompson Seattle is located at 110 Stewart Street, with the Sequel located at 1900 1st Avenue one block from Pike Place Market in the Pike and Pine retail core.
On Manhattan’s West Side, HFF arranged $80 million in construction financing that will develop a condominium property at 17 Jane Street.
Managing Directors Christopher Peck and Scott Aiese led HFF’s debt placement team. They secured the first mortgage and mezzanine loans for sponsor Edward J. Minskoff Equities Inc., New York.
Located in the West Village with more than 100 feet of frontage along Jane Street, 17 Jane Street is due for completion in third-quarter 2018.
