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February 9, 2017

Mission Capital Advisors

Ray

Hotel Deca in the University District was sold last month for $44.6 million by LaSalle Hotel Properties to AJ Capital Partners. The hotel will be renovated and rebranded as the Graduate Seattle. National firm Mission Capital Advisors said that it secured $100 million in debt financing to acquire and convert both the Deca and a Minneapolis hotel to the Graduate brand. In a statement, MCA's Jordan Ray said, “People like the concept of an amenitized hotel that has a fun local vibe and is situated on or near a campus. The [Graduate] brand is already becoming a household name.” AJ Capital will renovate the 158-room Deca over the winter of 2017-2018, including converting the penthouse suites to a rooftop bar. The hotel opened in 1931 as the Edmond Meany Hotel.




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