Vulcan sells Pan Pacific Hotel in South Lake Union

Paul Allen’s development firm built the 153-room hotel, which is part of a condo, retail and Whole Foods complex, at the prominent corner of Denny Way and Westlake Avenue, in 2006 at the start of the South Lake Union neighborhood’s transformation. (DEAN RUTZ/The Seattle Times)

The latest deal means Vulcan has now sold its full development project at the corner of Denny Way and Westlake Avenue for $144 million.

Vulcan has unloaded the luxury Pan Pacific Hotel for $79 million, its latest sell-off in South Lake Union.

Paul Allen’s development firm built the 153-room hotel, which is part of a condo, retail and Whole Foods complex, at the prominent corner of Denny Way and Westlake Avenue, in 2006 at the start of the South Lake Union neighborhood’s transformation. Vulcan sold the other parts of the complex for $65 million a year ago.

http://www.seattletimes.com/business/real-estate/vulcan-sells-pan-pacific-hotel-in-south-lake-union/

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