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BGO, URG Complete Refinancing of Plaza 600 in Seattle
BGO has completed the refinancing of Plaza 600, a 20-story office building in downtown Seattle.
The new financing structure will support revitalization initiatives at the property to attract high-quality tenants. JLL’s Cleita Harvey, Tim Jones and Charlotte Evans lease the building. In the refinancing, BGO and Urban Renaissance Group (URG) secured significant committed capital in excess of $10 million which will further reposition the asset.
“With a much lower debt load, long-term loan extension and complete discretion over our leasing and capital improvements, we are now in a flexible position to aggressively pursue deals that will draw tenants to this attractive downtown Seattle location,” said Rob Naso, Managing Partner and Head of U.S. Asset Management at BGO.
Centrally located between the Retail Core and the South Lake Union neighborhood, Plaza 600 provides convenient access to I-5 and mass transit, and it offers 209,256 square feet of office space and an additional 5,063 square feet of retail space.
