Among
the noteworthy deals of the past week was Staypineapple’s sale of Hotel Five in
Seattle for $25.5 million.
SEATTLE —
Bellevue, Washington-based Staypineapple has sold the 116-key Hotel Five in
Seattle for $25.5 million to an entity affiliated with Melina Lin, CEO of
Renton, Washington-based MS Real Estate, according to the Puget Sound Business
Journal.
This is the
third Seattle-area property that Staypineapple, which will continue to manage
the hotel, has sold since November. The company sold its Watertown Hotel in the
University District for $27.5 million and sold The University Inn for $27
million.
The hotel
was built in 1978. This is MS Real Estate’s first entry into the hospitality
market.
To download
our list of deals from the past week in Excel format, click here.