Columbia Pacific Advisors Bridge Lending has closed on a $92-million loan to facilitate the construction of the retail/commercial phase of Harvest, a mixed-use project in the Hollywood District of Woodinville, WA, which will include The Somm Hotel and Spa, a Marriott Autograph Collection hotel.
Upon its end of 2024 completion, Harvest’s mixed-use offering will include the 4-star boutique hotel featuring 165 guestrooms and a luxury spa, as well as at least 70 townhomes and condominium flats, more than 200 rental apartments and a central retail hub.
Will Nelson, director, real estate lending, Columbia Pacific Advisors, said, “We have monitored this project for the past 20 years, and the opportunity to participate over the last five has been a blessing. Woodinville is a special place, uniquely representing the thriving Washington wine industry. The Harvest project is a welcomed addition that will allow the community to live, shop and stay in the heart of Western Washington’s wine culture.”
This newest infusion of capital is the second delivered to this site and the fourth loan provided by Columbia Pacific Advisors to support the development of the Hollywood District. In 2018, Columbia Pacific Advisors provided a $14-million acquisition loan for this property. Of the existing loans, Columbia Pacific Advisors most recently provided an additional tranche of capital in 2021 to support the construction of 31 townhomes in the Woodinville Wine Village, the first residential project in the immediate market.
Located about 17 miles northeast of downtown Seattle, the Hollywood District of Woodinville Wine Country is home to more than 90 rated wines and a resort lodge.
