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Cushman & Wakefield Arranges $107M Refinancing for Seattle MXU Property
Cushman & Wakefield has arranged a $107 million refinancing for 255 South King Street, a mixed-use property located in Seattle.
Dave Karson, Chris Moyer and Chris Meloni of Cushman & Wakefield arranged the transaction on behalf of an affiliate of Steinhauer Properties, the borrower. Stoneway Capital originated the loan on behalf of Ardent Capital Management. “Office and hotel have been out of favor in Seattle the last few years, but we are seeing signs of capital returning to the space; this refinancing underscores interest in high-quality assets with strong cash flow,” said Karson.
255 South King Street is a 717,692-square-foot property that includes a 209,484-square-foot office tower and a 282-room Hilton Embassy Suites hotel with 10,000 square feet of meeting and event space, a pool, fitness center, parking garage and 17,292 square feet of retail.
The property provides immediate access to major transit routes, including proximity to regional light rail stations and bus lines. The site is also within walking distance of local dining, shopping and entertainment venues.
