PHOENIX, Arizona—JLL’s Lodges & Hospitality Group introduced it has organized the refinancing for the 254-key Hilton Backyard Inn Seattle Bellevue Downtown.
JLL labored on behalf of the borrower, West77 Companions, to safe a fixed-rate, five-year mortgage by way of a nationwide life insurance coverage firm. The proceeds had been used to repay an present financial institution mortgage and return fairness to the borrower.
Situated in downtown Bellevue, Washington, the six-story Hilton Backyard Inn opened in 2018. Bellevue, usually known as Seattle’s “Eastside,” has emerged as a know-how hub, attracting firms like Amazon, Microsoft and T-Cell.
The lodge has over 3,000 sq. toes of assembly area, an on-site restaurant and bar, a health heart, an indoor terrace pool, and structured parking. It’s close to sights akin to Bellevue Sq., The Retailers at The Bravern, and Lincoln Sq.. Different Seattle sights together with Pike Place Market and the Area Needle are additionally accessible, with Seattle-Tacoma Worldwide Airport 18 miles away.
The JLL Debt Advisory workforce was led by Managing Director Adrienne Andrews and Analyst Jessica Mehra.
“This refinancing introduced a beautiful alternative given the lodge’s prime location in a high-barrier-to-entry market, sturdy in-place money circulation, and seasoned sponsorship,” mentioned Andrews. “This Hilton Backyard Inn is well-positioned to capitalize on Bellevue’s strong company demand drivers and rising tourism sector.”
