Trinity Investments, a personal actual property funding agency, has bought the Fairmont Olympic Resort, a historic 450-room luxurious resort in downtown Seattle. The resort opened its doorways in 1924 and is a well-liked vacation spot for enterprise, leisure, and social gatherings.
Located in a primary location, the Fairmont Olympic Seattle spans a whole metropolis block and is surrounded by main firms, akin to Amazon, Disney, and Starbucks. Additionally it is conveniently positioned close to main vacationer sights just like the newly expanded Seattle Conference Middle, Lumen Area, and Pike Place Market.
The resort boasts quite a few facilities, akin to spacious visitor rooms, 5 distinctive eating choices, a 25,000-square-foot occasion house, street-level retail, a ten,800-square-foot Well being Membership, full with an indoor heated pool, and 6,700 sq. toes of workplace house.
Lately, the resort underwent a $22 million renovation, which revamped the general public areas, together with the disclosing of the Olympic Bar, the redesigning of The George restaurant, and enhancements to all indoor operate areas.
Trinity plans to hold out a full guestroom renovation to modernize the lodging, which haven’t been up to date since 2016. This transfer goals to capitalize on Seattle’s place as a high-growth gateway market.
Sean Hehir, Trinity’s Managing Accomplice, President, and CEO, expressed his pleasure over the acquisition. Hehir highlighted the property’s standing as a completely restored landmark in a high-growth market and emphasised Trinity’s intention to boost the property’s legacy by endeavor a full guestroom renovation.
This newest acquisition provides to Trinity’s increasing portfolio. The corporate lately acquired The Customary, London, partnering with Oaktree Capital Administration and Companions Group. Since 2024, Trinity has invested over $730 million in accommodations and different hospitality property globally.
The Fairmont Olympic Seattle is Trinity’s eleventh resort transaction within the U.S. for the reason that last closing of its inaugural fund, Trinity GP Fund I L.P., in 2021.
