Largo Capital Secures $12.1MM Refinance for Premier Seattle Wine Region Boutique Hotel

July 21, 2025 – Sarasota, Florida – Katie Vivian of Largo Capital, Inc. has successfully secured a $12,100,000 permanent first mortgage to refinance a premier, boutique hotel property, located in Seattle’s thriving wine region. The property benefits from the sponsor’s ongoing commitment to enhancing the guest experience and maintaining its market-leading status. Significant capital improvements completed between 2021 and 2024 further strengthen the hotel’s long-term value and appeal to discerning travelers.

The financing occurred through one of Largo’s correspondent life insurance company lenders, a highly competitive source in the hospitality space. This par lender fully underwrites and approves the loan upfront, offering certainty of execution in a volatile market.

The lender locks the interest rate upon execution of loan application and prices over the corresponding US Treasury. The loan features a 5+5-year term, and 30-year amortization. At the end of the initial 5-year term, the borrower has the unique flexibility to repay the loan at par or at no additional cost, extend for an additional 5-year term, at the prevailing interest rate for comparable hospitality loans. Other than the P&I payment, all other terms remain constant for the life of the loan.

Even more notable is that this lender does not have any ongoing operating covenants, nor does it require reserves for real estate taxes, insurance, or FF&E. This offers property owners a streamlined, borrower-friendly structure.

This transaction highlights Largo Capital’s expertise in placing tailored hotel financing through life company relationships, especially for independent and boutique assets in strong regional markets.