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Meridian Arranges $312M Acquisition Financing for T-Mobile US HQ in Bellevue
Meridian Capital Group arranged $312 million in acquisition financing for Newport Corporate Center, a Class A corporate headquarters campus anchored by T-Mobile US, Inc. in Bellevue, WA. The five-building campus spans more than 996,000 square feet and his held by Los Angeles-based Preylock.
The deal is structured with a 10-year CMBS loan that features a fixed rate and full-term interest-only payments. Additionally, there was a preferred equity position that reduced the cash equity requirement for the borrower, further enhancing investor returns.
Currently 100% leased, the campus is anchored by T-Mobile US Inc., which occupies 92% of the property’s net rentable area. The company has been headquartered at the center for more than 17 years, and recently executed a renewal through 2030.
Meridian’s Kovi Elkus, Seth Grossman and Jackie Tran negotiated the deal.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Sale/Acquisition
