JV Capitalizes on Hospitality Strength

SEATTLE-Recognizing the viability of the hospitality market here, developers of the soon-to-be-built SLS Hotel Seattle, located at Fifth and Columbia Downtown, anticipate that the luxury hotel will bring a level of sophistication to the city’s accommodations offerings that has yet to be seen. As GlobeSt.com previously reported, the 43-story mixed-use tower is a $400-million construction project resulting from a joint venture between development firm sbe, Stockbridge Capital Group LLC and Daniels Real Estate. It is expected to capitalize on the strengthening local hospitality market while adding another link in the SLS brand chain.

“We’ve had our eye on Seattle for years, and with the local hospitality market trending in a very positive direction, we’re extremely pleased to announce our plans for SLS Hotel Seattle,” said Sam Nazarian, founder, chairman and CEO of sbe, in a prepared statement. “Stockbridge Capital and Daniels Real Estate are leaders in architectural excellence and, along with the legendary designer Philippe Starck, Fifth and Columbia will add yet another chapter to the celebrated legacy of the SLS Hotels brand, while offering a tailored and unique hotel experience for locals and visitors alike.”