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Seattle & Northwest  + Seattle  + Apartments  |  October 17, 2022
Legacy Partners Secures $107M Financing for Redmond Project
Mark Nieto
By: Mark Nieto

Legacy Partners Secures $107M Financing for Redmond Project

Bay Area-based real estate firm Legacy Partners and joint venture partner Lionstone Investments have announced the close of a $107 million construction loan and the start of Phase II of the redevelopment of the Redmond Square Shopping Center in Redmond, WA.

The six-story, mixed-use development consists of 623-apartments and 33,000-square-feet of retail and commercial space. The first phase, Eastmark Grand will deliver in 2024, and New York Life Real Estate Investors arranged the $107 million financing for the second phase, Eastmark Central, which just broke ground and will deliver in early 2025.

“The Eastmark redevelopment is in a highly interconnected submarket of downtown Redmond,” said Legacy Partners’ Parker Nicholson. “Eastmark residents will enjoy the adjacency to SoundTransit’s Downtown Redmond Station, as well as a myriad of quaint shops, restaurants and high-tech employers located within a short walk of the site.”

Tiscareno Associates is the architect of record for the project.

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Legacy Partners Parker NicholsonLionstone InvestmentsTiscareno AssociatesNew York Life Real Estate Investors

About Mark Nieto

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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