$29.5M refinancing secured for The Maxwell Hotel in Seattle

PHOENIX, Feb. 17, 2025 – JLL's Hotels & Hospitality Group announced today it arranged a $29.5 million refinancing for The Maxwell Hotel, a 139-key boutique hotel located in the heart of Seattle's vibrant Queen Anne neighborhood.

JLL worked on behalf of the borrower, Staypineapple, to secure the 10-year, fixed-rate loan through a regional credit union.

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, just steps from the Seattle Center, Space Needle and Climate Pledge Arena. The hotel benefits from its prime location in one of Seattle's most desirable and affluent neighborhoods, offering an abundance of dining, shopping and entertainment options that appeal to both business and leisure travelers.

The JLL Debt Advisory team was led by Managing Director Adrienne Andrews and Analyst Jessica Mehra.

"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. The credit union proved to be the ideal financing partner, offering certainty of execution and flexible terms that aligned with the sponsor's objectives."

"We are thrilled with the outcome of The Maxwell Hotel refinancing and incredibly grateful to the JLL team for their tireless efforts and expertise," said Dina Belon, President of Staypineapple. "Their ability to navigate complex scenarios and find the perfect lender aligned with our long-term vision was invaluable. Staypineapple, a hotel brand with 10 boutique properties throughout the U.S., is growing, and we wanted a lender that saw us as a business partner."

JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling $83 billion worldwide. The group’s 370-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.

For more news, videos and research resources, please visit JLL’s newsroom.

Staypineapple is a brand of upscale, out-of-the-ordinary boutique hotels in urban markets nationwide, managed by Staypineapple Hotels Inc., based in Bellevue, Wash. Focused on thoughtful service and design, with an uncanny knack for anticipating needs, the pet-friendly hotels wholeheartedly embrace the pineapple's symbol of hospitality and joy. For more information or to make a reservation, visit Staypineapple.com or call (866) 866-7977. Follow Staypineapple on Instagram, TikTok and Facebook.