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sbe, Stockbridge Capital and Daniels Real Estate Unveil $400 million
Development Plans for the SLS Hotel Seattle


SEATTLE--(February 14, 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 designer Philippe 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, José Andrés 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.

To learn more about sbe, please visit sbe.com or download the sbe App here. To friend sbe on Facebook click here and to follow us on the Twitter click here.

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 José Andrés 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 visit www.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.

Contact:

sbe Director of Communications
Robbie McKay
Robbiem@sbe.com
323.655.8000


 

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Also See: sbe to Break Ground on the 1,600-key SLS Las Vegas, a Fully-Integrated Resort and Casino Slated to Open Fall 2014 / February 2013

Miami's Landmark Raleigh Hotel Sold by Brilla Group to Joint Venture Between David Edelstein, Owner of Miami Beach's W Hotel and Sam Nazarian, Owner of sbe for $55 Million / December 2012

sbe Names Sam Bakhshandehpour Company President; Bakhshandehpour to Lead Top-Level Management of All Company Business alongside sbe Founder, Chairman and CEO Sam Nazarian / November 2012

sbe to Open 190-room SLS Hotel in New York City, Slated for Q3 2013 / July 2012

The Opening of the 140-room SLS Hotel South Beach in Miami, Florida Marks the Debut of sbe Hotels on the East Coast; The Former Ritz Plaza Hotel, an Historic Art Deco Building, has been Transformed, Including a New Addition of 10 Villas / June 2012

Bringing an L.A. Vibe, New 140-room SLS Hotel Opens on South Beach in Miami Beach, Florida / June 2012

With $300 Million New Funding in Place, sbe and Stockbridge Capital Group Set to Proceed with the $744 Million Redevelopment of the Closed Sahara Hotel & Casino into the SLS Las Vegas; sbe Names Hospitality and Gaming Industry Veteran Rob Oseland as President and Chief Operating Officer of SLS Las Vegas / May 2012

Financing Details Revealed for Hotelier Sam Nazarian's Plan to Redevelop and Reopen the Closed Sahara Hotel-Casino as the SLS Las Vegas; If Financing Successful for the $744 Million Project, Plans to Open in Q2 2014 / April 2012

SBE Hotel Group Names Management Team for the SLS Hotel South Beach in Miami Beach, Florida; General Manager Albert Mertz, Director of Sales & Marketing Gregg Karasik and Director of Food and Beverage C. Luke Mathot / March 2012

Sam Nazarian Advances Commitment and Development Plans for the Ritz Plaza Hotel in South Miami Beach, Florida; Will Open as the 142-room SLS South Beach in Spring 2012 / August 2010
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