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Seattle Tower Refi’d for $170M
A joint venture between Investcorp International Realty, Inc. and Schnitzer West secured a $170-million loan to refinance 901 Fifth Ave. in Seattle. The 540,589-square-foot, Class A office tower is situated within the CBD, just one block from the Third Avenue transportation corridor.
Originally built in 1998, the 41-story core office asset was recently renovated with more than $7 million in improvements, including lobby renovations, updates to the conference center and executive board room. The nearly fully-leased building includes credit tenants such as the City of Seattle, St. Jude, State Farm Mutual, SVB Financial Group, AllState Insurance, Washington State University, the Federal Home Loan Bank of Des Moines and Pitchbook, Inc.
HFF’s Michael Gigliotti, Tom Wilson and Michael Tepedino represented the borrower in arranging the loan through HSBC.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
