Seattle’s Met Tower Project Secures $110M Refinance
Cushman & Wakefield has served as exclusive advisor to Low Tide Properties and Continental Properties in the procurement of $110 million for the refinancing of Met Tower, a 366-unit luxury apartment property in Seattle. The loan was provided by Citibank.
Located at 1942 Westlake Avenue, the Denny Triangle location offers residents a premier live-work-play experience, and scores a walkability score of 99 out of 100. The property features a mix of studio, one- and two-bedroom residences along with 10,000 square feet of retail space and an eight-level parking garage.
The Cushman & Wakefield Equity, Debt & Structure Finance team of Dave Karson, Alex Hernandez, Chris Moyer, Alex Lapidus and Meredith Donovan represented the borrower in the transaction. “Capital is still very much available for the right deals, and multifamily continues to be one of the bright spots,” said Karson. “Many lenders and investors recognize that despite the conversations about remote work, living close to employment centers becomes appealing in volatile labor markets.”
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.