sbe, Stockbridge and Daniels Real Estate Announce Development Plans for SLS Hotel Seattle

• 
  SAVE
• 
  SHARE
• 
  TEXT SIZE
• 
  PRINT
• 
  COMMENT
• 
  PDF

. February 18, 2013

February 18, 2013 - sbe, an industry-leading hospitality, lifestyle and real estate development company, Stockbridge Capital Group, LLC and Daniels Real Estate today announced the development plans for SLS Hotel Seattle. Located at 5th and Columbia in Downtown Seattle, the announcement also marks the Seattle debut of legendary designerPhilippe Starck.

Construction of the $400 million development is expected to begin Q4 2013 with an anticipated completion date of 2016. In addition to the luxury SLS Hotel Seattle, which will occupy floors 2 through 15, the tower will also offer Class A office space, unsurpassed in the Seattle market. Once complete, SLS Hotel Seattle will offer 184 guest rooms and suites, 30,000 square feet of food and beverage outlets, over 20,000 square feet of conference and event space, as well as a spa and fitness areas.

“We've had our eye on Seattle for years, and with the local hospitality market trending in a very positive direction, we're extremely pleased to announce our plans for SLS Hotel Seattle,” said Sam Nazarian, Founder, Chairman and CEO of sbe. “Stockbridge Capital and Daniels Real Estate are leaders in architectural excellence and along with the legendary designer Philippe Starck, Fifth and Columbia will add yet another chapter to the celebrated legacy of the SLS Hotels brand, while offering a tailored and unique hotel experience for locals and visitors alike.”

“Stockbridge and sbe have established a great relationship over the years, as evident by our collaboration on the master planning of SLS Las Vegas,” added Terry Fancher, Executive Managing Director of Stockbridge Capital Group. “With Daniels Real Estate joining the partnership, we're able to take SLS Hotel Seattle to the next level with a product that is unparalleled in the market.”

“Fifth and Columbia with SLS Hotel Seattle will raise the bar in Seattle luxury hospitality and Class A real estate development,” said Kevin Daniels, President of Daniels Real Estate. “We both have a mission to redefine standards of excellence and innovation.”

While programming of the food and beverage outlets has not yet been finalized, sbe will collaborate with SLS Hotels Culinary Director, and James Beard Award-Winning Chef, Jose Andres on developing the concepts. Once final, the food and beverage concepts are also expected to include a mix of sbe's award-winning culinary and nightlife brands currently operating in Southern California, Nevada, Texas and Miami.

In developing the property, sbe and Stockbridge have aligned with Seattle based Daniels Real Estate, known for a variety of highly successful projects including Starbucks Center, Union Station and the upcoming Stadium Place Project, the largest transit oriented development on the West Coast.

Also collaborating on the development is ZGF Architects. With offices in Seattle, Portland, Los Angeles, New York and Washington D.C., ZGF specializes in sustainable design and has received numerous AIA awards for notable projects including Fred Hutchinson Cancer Research Center, King Street Station Rehabilitation, Nintendo of America Headquarters, numerous projects for Microsoft Corporation, the University of Washington, Bellevue Library and Stadium Place.

The news of SLS Hotel Seattle reinforces the continued growth of sbe's hotel, restaurant and nightlife brands worldwide, which now includes over 70 properties currently operating or in development. In the last six months alone, sbe has announced SLS Hotels in Manhattan and China as well as the expansion of the Katsuya by Starck restaurant brand across the Middle East. Already the largest nightlife operator on the West Coast, sbe has recently expanded its Hyde Lounge brand to Miami with locations at SLS Hotel South Beach and inside the Miami Heat's AmericanAirlines Arena.

ABOUT sbe
sbe is a creative hospitality company that develops, manages and operates award-winning hotels, restaurants and nightlife. Through exclusive partnerships with cultural visionaries, sbe is dedicated to delivering the best in design, culinary and entertainment. Already a proven leader in the hospitality and real estate industries, sbe has over 70 properties currently operating or in development, and has expanded several of its flagship brands including SLS Hotels, Katsuya by Starck, The Bazaar by Jose Andres and Hyde Lounge nationally and internationally. Founded in 2002 by Chairman and CEO Sam Nazarian, sbe is a privately held company. More information about sbe can be obtained at www.sbe.com, or by downloading the sbe App here.

ABOUT STOCKBRIDGE CAPITAL GROUP
Stockbridge Capital Group, LLC (together with its affiliates, "Stockbridge") is a real estate investment management firm which had approximately $4.5 billion in real estate and real estate-related assets under management as of December 31, 2011. Stockbridge's investment portfolio comprises more than 30 million square feet of existing office, industrial, retail, hospitality and residential properties throughout the United States. In addition to real estate ownership, Stockbridge also specializes in large-scale development and redevelopment projects.

Stockbridge is headquartered in San Francisco with offices and personnel in Chicago, New York, Los Angeles and Atlanta. For more information, please visitwww.stockbridgerealestate.com.

ABOUT DANIELS REAL ESTATE
Daniels Real Estate LLC is a Seattle based company formed to develop complex and challenging dense urban commercial real estate projects that bring significant benefits to the communities they are located in. Combining community participation, advanced sustainable practices, complex urban core transit oriented developments, and historic preservation, the company's development team has earned a reputation as leaders in the Seattle development community. www.danielsre.com.