About this Property in Seattle, WA

Enact Partners provided financing to construct a 24-room hotel and event space in a secluded 20+ acre wooded area outside of Seattle, WA. The property will be rented out for corporate retreats. With the large number of employees working remotely part or full time, the need for them to connect is growing. The property will include a commercial kitchen, cafeteria, indoor and outdoor meeting spaces, and a manager’s quarters. An onsite chef will prepare meals using local, organic foods. The borrower is a former executive and first-time developer. The borrower recruited their architect brother to design the building, hired an experienced local general contractor to perform value engineering and construction, and will work with well-known hospitality group to market and manage the hotel.