Robertdouglas Advises Lodging Capital Partners On The $31.5 Million Acquisition Financing For The Embassy Suites Seattle Tacoma International Airport
RobertDouglas announced today that it advised an investment partnership led by Lodging Capital Partners on the acquisition financing for the Embassy Suites Seattle Tacoma International Airport in Seattle, WA. Wells Fargo Bank provided the $31.5 million acquisition financing.
The Embassy Suites Seattle Tacoma International Airport features 238 premium all-suite guestrooms; 5,600 square feet of meeting space; a full-service three-meal restaurant; and a wide array of property amenities, including an indoor swimming pool, fitness center, and complimentary local transportation.
“The Property’s optimal location adjacent to SeaTac International Airport and Boeing, coupled with the hotel consumer’s increasing affinity for the Embassy Suites brand, has been a big driver in the Property’s market-leading RevPAR performance. The highly institutional Sponsorship and thoughtful business plan around this Property drew substantial interest from lenders in a competitive process – driving optimal terms and covenants for the Sponsor,” said Rob Stiles, Principal & Managing Director at RobertDouglas.
About Lodging Capital Partners, LLC
Lodging Capital Partners, formed in 2005, is a premier owner and asset manager of luxury, upper-upscale, and focused-service hotels. Since formation, LCP has invested in a portfolio with a valuation of over $1.5 billion and maintained a consistent track record of strong performance and realizations. LCP’s cohesive and accomplished management team has over 125 years of combined experience in hotel valuation, acquisitions, financing, asset management and dispositions. Within the hospitality sector, the LCP team has collectively purchased over $5.0 billion of properties, implemented over $7.0 billion of financings, raised over $2.5 billion of public and private equity, and sold over $1.0 billion of assets.
RobertDouglas is a real estate investment banking firm with offices in New York, Los Angeles and San Francisco that specializes in the sale, financing and equity capitalization of hotel, resort and gaming properties throughout North America. Founded by two of the hotel industry’s pre-eminent finance professionals, Rob Stiles and Doug Hercher, RobertDouglas offers exceptional domestic and international institutional investor and lender relationships. RobertDouglas combines the capital markets sophistication of top-tier investment banks with detailed hotel underwriting and asset management experience, providing the firm with unique capabilities in an underserved market. For more information, contact firstname.lastname@example.org or go to www.robert-douglas.com.