Braemar Hotels agrees to sell Marriott Seattle Waterfront for $145M

Braemar Hotels & Resorts Inc.

Sale price $145M ($393,000 per key) for 369-room hotel; 8.1% cap rate on trailing 12-month NOI of $12.4M.
CEO cites deleveraging and alignment with luxury hotel strategy; transaction expected to close in August 2025.
Includes anticipated capex of $7M; buyer is Seafront Fjord Owner, LLC.
Sale supports Braemar's focus on luxury assets; no assurances deal will close on stated terms.

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