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Hudson Pacific Completes $285M Refinancing of Seattle Office Tower
Hudson Pacific Properties, Inc. announced the refinancing of the loan secured by 1918 Eighth, a 668,000-square-foot, 99%-leased office tower located in Seattle’s Denny Triangle.
The new five-year, interest-only loan carries a fixed rate of 6.16% and matures in August 2030. Hudson Pacific, which owns 55% of 1918 Eighth in a joint venture, used net proceeds to repay its share of the prior $314.3 million loan scheduled to mature in December 2025. Wells Fargo led the refinancing, and Newmark acted as the broker.
“This transaction, addressing the last of our 2025 debt maturities, once again highlights the quality of our portfolio and our team’s ability to execute in today’s selective credit environment,” said Harout Diramerian, Hudson Pacific’s CFO.
The building is centrally located between the downtown core and South Lake Union, near residential properties, entertainment, and restaurants, including Amazon, Seattle Children’s Research Institute, and several hotels.
