{"id":1004165786,"date":"2017-02-03T08:23:24","date_gmt":"2017-02-03T16:23:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004165786"},"modified":"2022-12-08T17:59:04","modified_gmt":"2022-12-09T01:59:04","slug":"lasalle-sells-seattle-hotel-for-55m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lasalle-sells-seattle-hotel-for-55m\/","title":{"rendered":"LaSalle Sells Seattle Hotel for $55M"},"content":{"rendered":"<p>By Adina Marcut<\/p>\n<div id=\"attachment_1004165788\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Hotel-Deca.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004165788\" data-attachment-id=\"1004165788\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/lasalle-sells-seattle-hotel-for-55m\/hotel-deca\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Hotel-Deca.png\" data-orig-size=\"791,663\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Hotel Deca\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Hotel-Deca.png?w=791\" loading=\"lazy\" class=\"wp-image-1004165788 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Hotel-Deca.png\" alt=\"Hotel Deca\" width=\"300\" height=\"251\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Hotel-Deca.png 791w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Hotel-Deca.png?resize=300,251 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Hotel-Deca.png?resize=768,644 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004165788\" class=\"wp-caption-text\">Hotel Deca<\/p><\/div>\n<p><strong>Seattle<\/strong>\u2014LaSalle Hotel Properties has sold Hotel Deca, a 158-key and three-suite art-deco architecture and contemporary hotel, for $55 million, to an affiliate of AJ Capital Partners. In December 2005, the company acquired the hotel for $26.4 million.<\/p>\n<p>\u201cHotel Deca was an excellent long term investment for us, generating an unleveraged IRR of 12.3 percent and an average cash-on-cash yield of 8.8 percent over 11 years,\u201d Michael Barnello, president &amp; CEO of LaSalle Hotel Properties, said in a statement.<\/p>\n<p>Located at 4507 NE Brooklyn Ave.,\u00a0Hotel Deca first opened its doors in 1931 and at the time was the Pacific Northwest\u2019s largest suburb hotel. Amenities include a fitness center, as well as the Burke Gilman Trail, a 27-mile of recreational trail for walkers, runners, cyclists, skater and commuters, free Wi-Fi, in-room coffee makers, fireplace and conference rooms. Additionally, the hotel offers more than 5,500 square feet of flexible meeting and exhibit space including the Grand Ballroom that features 18-inches ceilings, hand-blown chandeliers and state-of-the-art audio\/visual systems.<\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 158-key and three-suite Hotel Deca first opened its doors in 1931.<\/p>\n","protected":false},"author":436,"featured_media":1004165788,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21751,21742,1610,15],"tags":[33796,33795],"class_list":["post-1004165786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-hotel","category-latest","category-seattle","category-west","tag-aj-capital-partners","tag-lasalle-hotel-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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