Opportunity
Arranged by US Hotel Advisors, Nuveen Green Capital partnered with Hall Structured Finance to provide a combined $82M, ~60% LTC in construction financing. Nuveen Green Capital’s $30M in C-PACE financing will fund seismic strengthening, HVAC, and building envelope measures for a total of 21% LTC - which enabled the sponsor to lower their weighted average cost of capital.
Property summary
The Somm Hotel & Spa will be a 164-room full-service luxury Autograph by Marriott hotel in Woodinville, WA. The hotel will serve as the centerpiece of the new 20-acre Harvest master-planned development in the heart of the Sammamish River Valley wine country. Situated 30 minutes north-east of Seattle, the hotel will serve customers with a full-service restaurant and two bars, and will provide access to over 100 wineries in the region. The Somm will be developed by President Kent Halvorson and Vice President Tom Vasilatos of Woodinville Hotel Partners, LLC.
