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Kennedy Wilson Fund Acquires 300K-SF Puget Sound Campus
CBRE Capital Markets arranged $34.5 million in acquisition financing for Redmond East Business Campus, which was purchased by a closed-end fund managed by Kennedy Wilson. Redmond East is an eight-building office and flex portfolio located near downtown Redmond, WA.
Located at 6724 to 6565 185th Ave. NE, and 18578 to 18640 NE 67th Ct., the 292,100-square-foot institutional-quality property is currently 98% leased to nine tenants.
CBRE’s Thomas Pehl and Lou Senini represented the unnamed seller in the transaction. CBRE’s Brad Zampa, Mike Walker, and Megan Woodring arranged the balance sheet bank financing on behalf of Kennedy Wilson.
The seven-year, non-recourse, full-term interest only, floating-rate loan was provided by a national financial service provider at a very competitive spread priced over 30-day LIBOR.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Sale/Acquisition
