The Elliott is a 29-story, 425-room luxury hotel located adjacent to the Washington State Convention and Trade Center. The hotel, which has received the "Leading Hotels of the World" designation, was completed in 2001.
Hedreen Hotel is a limited-liability company whose members include entities controlled by Richard C. Hedreen and Pritzker family-related entities. Specific terms of the loan were not disclosed.
Prudential Mortgage Capital is the commercial mortgage lending business of Prudential Financial, Inc. (NYSE: PRU). It originates mortgage loans for Fannie Mae and FHA programs, the capital markets, mezzanine programs, Prudential's general account, and other institutional investors.
The loan for The Elliott was funded by Prudential's general account. Gary W. Beem of Northwest Commercial Mortgage in Seattle assisted with the structuring and placement of the loan. Michael Jameson of Prudential's San Francisco office originated the loan.
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