Among
the noteworthy deals of the past week was Columbia West Properties’ sale of the
Watertown Hotel in Seattle to Sohal Hotels for $27.5 million.
SEATTLE — Bellevue,
Washington-based Staypineapple Hotels, through Columbia West Properties, has
sold the Watertown Hotel in Seattle to Lynnwood, Washington-based Sohal Hotels for
$27.5 million.
Staypineapple
will now manage the property under its first management and licensing
agreement. The 100-key Watertown Hotel was built in 2001, became a part of the
Pineapple Hospitality portfolio in 2008 and was officially branded as a
Staypineapple property in 2013.
“In transferring ownership of Watertown Hotel
to Sohal Hotels, we are excited to embark on a new journey to expand our
management and licensing capabilities,” said Dina Belon, president of
Staypineapple Hotels Inc.
Columbia
West Properties is the real estate company that owns and manages Staypineapple Hotels.
To download
our list of deals from the past week in Excel format, click here.