JLL’s Hotels & Hospitality Group has arranged a $29.5 million refinancing for The Maxwell Hotel, a 139-key boutique hotel located in Seattle’s Queen Anne neighborhood.

JLL worked on behalf of the borrower, Staypineapple, to secure the 10-year, fixed-rate loan through a regional credit union. The JLL Debt Advisory team was led by Managing Director Adrienne Andrews and Analyst Jessica Mehra.

Opened in 2010, the five-story property features spacious guest rooms with modern amenities, an indoor pool, fitness center, on-site restaurant and bar and 1,600 square feet of meeting space. The Maxwell Hotel is situated at 300 Roy Street, near the Seattle Center, Space Needle and Climate Pledge Arena.

“The Maxwell Hotel presented an attractive financing opportunity given its strong cash flow, irreplaceable location and experienced sponsorship,” said Andrews. “We received robust interest from lenders drawn to the property’s consistent performance and Seattle’s resilient lodging market fundamentals.”