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Seattle-Area Hotel Portfolio Sells for $42M
Three Seattle-area Sonesta hotels recently sold for $42 million.
Trimark Hospitality Group purchased properties from Service Properties Trust in September, reported the Puget Sound Business Journal. The properties include Sonesta Select at 14615 NE 29th Place in Bellevue and two neighboring hotels in Renton: Sonesta Select at 200 SW 19th St. and Sonesta Simply Suites at 300 SW 19th St.
Service Properties Trust is a Newton, Massachusetts-based real estate investment trust. A related entity acquired the hotels in separate transactions in 1995 and 2001 for a total of $31.6 million. Trimark Hospitality Group is a hotel owner and operator with a portfolio of around 20 properties across seven states.
The 152-room Sonesta Select in Bellevue was developed in 1990 and is located within 5 miles of Microsoft’s Redmond campus, Redmond Town Center and Bellevue Square. The two Renton hotels were developed in 2000 and have a combined 251 rooms.
