Braemar Hotels & Resorts has entered into a definitive agreement to sell the 369-room Marriott Seattle Waterfront in Seattle for $145 million, which equates to $393,000 per key. The eight-story, 325,000 square foot hotel is located at 2100 Alaskan Way.
Including anticipated capital expenditures of $7 million, the sale price represents an 8.1 percent capitalization rate on net operating income for the trailing 12 months ended May 31, 2025.
“We are pleased to announce the planned sale of the Marriott Seattle Waterfront,” said Richard J. Stockton, Braemar’s president and CEO. “The sale of this upper-upscale hotel will help deleverage our portfolio and further align our financial performance with the luxury hotel sector.”
Braemar Hotels & Resorts is a real estate investment trust focused on investing in luxury hotels and resorts. The transaction is expected to close in August 2025. Other terms and conditions of the deal were not disclosed.
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