SHERIDAN, WYOMING – Feb. 20, 2025 – Staypineapple, a growing hotel brand with 10 boutique properties across the U.S., has secured a $29.5 million refinancing loan for The Maxwell Hotel, a 139-key boutique hotel in Seattle's desirable Queen Anne neighborhood. The financing was arranged by JLL’s Hotels & Hospitality Group.
Prime Location and Amenities
The five-story Maxwell Hotel, opened in 2010, boasts an array of amenities, including an indoor pool, a fitness center, an on-site restaurant and bar, and 1,600 square feet of meeting space. Its location in Queen Anne, one of Seattle’s most sought-after and affluent areas, provides guests with convenient access to a variety of dining, shopping, and entertainment options. The hotel is also situated near prominent Seattle attractions such as the Seattle Center, the iconic Space Needle, and the Climate Pledge Arena, making it an attractive choice for both business and leisure travelers.
JLL's Expertise in Securing Financing
JLL’s Debt Advisory team, led by Managing Director Adrienne Andrews and Analyst Jessica Mehra, worked on behalf of Staypineapple to secure the 10-year, fixed-rate loan through a regional credit union. Their expertise in navigating the complexities of hotel financing proved instrumental in achieving a favorable outcome for Staypineapple.
Strong Performance and Ideal Financing Partner
“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.”
Staypineapple's Growth and Vision
Dina Belon, president of Staypineapple, expressed her satisfaction with the refinancing process and the partnership with JLL. “We are thrilled with the outcome of The Maxwell Hotel refinancing and incredibly grateful to the JLL team for their tireless efforts and expertise. 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.”
Strategic Refinancing for Continued Success
This strategic refinancing positions The Maxwell Hotel and Staypineapple for continued success in the competitive Seattle hospitality market. The secured loan allows Staypineapple to capitalize on the hotel's strong performance, prime location, and established reputation, while also supporting the company's overall growth strategy. The long-term, fixed-rate structure of the loan provides financial stability and predictability, enabling Staypineapple to focus on delivering exceptional guest experiences and further expanding its portfolio of unique boutique hotels.
About Staypineapple
Staypineapple is a distinctive hotel brand known for its playful and whimsical approach to hospitality. With 10 boutique properties across the United States, Staypineapple offers guests a unique and memorable experience characterized by vibrant décor, comfortable accommodations, and exceptional service. The brand's commitment to creating a fun and welcoming atmosphere resonates with travelers seeking a more personalized and engaging hotel experience.
About JLL
JLL (Jones Lang LaSalle) is a leading global professional services firm specializing in real estate and investment management. With expertise across a range of property types, including hotels, JLL provides comprehensive services to investors, owners, and occupiers around the world. Their Hotels & Hospitality Group offers specialized advisory services, including debt and equity financing, investment sales, and asset management, to clients in the hospitality sector. JLL's deep market knowledge and global network enable them to deliver valuable insights and solutions to their clients.
For more information visit.