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Seattle & Northwest  + Washington  + Finance  | 

$245M Construction Loan for Seattle Development

Vancouver, Canada-based Westbank secured $245 million in construction financing for 707 Terry Ave. in Seattle. Upon completion, the project will consist of two, 33-story luxury apartment towers with 488 units located adjacent to the Frye Art Museum.

Construction is expected to commence soon on the project that includes towers designed to lean slightly away from each. The towers will feature a sky bridge at the 31st floor connecting to amenity levels. Amenities on the 32nd floor will include a solarium, pool, deck, barbecue station and lounge. Westbank acquired the site from the Frye Art Museum in June 2017 for $11.4 million.

A pair of Seattle companies, DSC Capital, LLC and R.M. Watson Co., worked on behalf of the developer to arrange the financing with a national life insurance company.


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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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