CushWake Advises in $193M Capitalization for The Confidential
Cushman & Wakefield has advised Security Properties, Inc. in the procurement of a $65 million joint venture equity investment along with $115 million construction financing for The Confidential, a mixed-use development in the Belltown District of Seattle. The equity was provided by MetLife Investment Management and the debt was provided by Bank OZK.
Featuring 212 apartment units, The Confidential is a unique mixed-use project that will include 8,000 square feet of ground floor retail along with 17,500 square feet of office space. Sponsorship is also pursuing LEED Silver certification for the building.
“The region is still facing a significant housing shortage due to the incredible big tech job growth in the area. The Confidential is going to be one of the nicest apartment buildings in the Pacific Northwest and will be a top choice for a lot of folks working in Seattle or Bellevue,” said Cushman & Wakefield’s Dave Karson, part of the team that arranged the financing for Security Properties, Inc.
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.