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Chinese Investors Acquire Hotel Portfolio from Barings for $800M
Hong Kong-based Junson Capital’s $800-million hotel portfolio acquisition from Charlotte, NC-based Barings included the Motif Hotel in Downtown Seattle. The 319-room property was picked up for $145 million, and was part of a larger deal that included properties in five states.
Motif Seattle Hotel is located at 1415 Fifth Ave., in heart of downtown between Pike St. and Union St., two blocks from the iconic Pike Place Market.
The buyer, a private equity real estate investment firm controlled by Longfor Properties’ co-founder Cai Kui, also acquired upscale business-class hotels in the Chicago, Boston, Washington, and Phoenix metropolitan areas including:
– 326-room Scottsdale Resort at McCormick Ranch in Scottsdale, AZ
– 221-room Hilton Sedona Resort at Bell Rock in Sedona, AZ
– 300-room Hilton Rosemont/Chicago O’Hare
– 236-room Kimpton Marlowe Hotel in Cambridge, MA
– 320-room Newport Marriott in Newport, RI
– 319-room Westin Hotel in Alexandria, VA
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