Four Seasons Private Residences Restructures Debt

Seattle CondosThe Four Seasons Hotel and Private Residences located in Downtown Seattle was facing financial troubles after having nearly $34 million in construction liens, defaulting in 2009.  These troubles were much in part due to slow sales when the Seattle real estate market was beginning to fall apart.  The building opened in 2008 with 36 residences, which range in price from $2-$10 million.  According to a Seattle Times article published today, the owners of the building, Seattle Hotel Group LLC, have dug themselves out of this hole with financial restructuring.   Last week, the Seattle Hotel Group received a loan for $26 million towards the debt, owed to Washington Real Estate Holdings.  For now, things are looking up for the ultra luxurious downtown Seattle condominiums.  There are eleven residences still for sale in the building.  Please follow the link to see one of these luxury condominiums full listing details and photos.