CBRE Arranges $33M Financing for Seattle Office Building
In March of this year, CBRE advised the owner in the sale of 425 Pontius, a boutique office building in the Lake Union neighborhood of Seattle. Now, CBRE has arranged the $33 million financing of the property on behalf of Swift Real Estate Partners, the new owner.
The CBRE team of Mike Walker and Brad Zampa in San Francisco along with Jeff Henderson in Seattle put together the four-year, floating-rate loan through a West Coast-based bank. Swift will use the financing for the acquisition and renovation of the building, which will include transforming creative office spaces, exterior work and cosmetic upgrades to the lobby, elevators and common areas.
CBRE Executive Vice President Mike Walker said in a news release, “Despite economic headwinds, we continue to find and structure attractive capital solutions for well-located real estate and institutional sponsors.”
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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