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Touchstone and Portman Holdings Secure Full Capitalization of Chapter Buildings Development in Seattle

U-District Mixed-Use Development Secures Full Capitalization

Commercial real estate firm Touchstone and development company Portman Holdings have obtained full capitalization of the Chapter Buildings mixed-use project in Seattle’s University District, through a joint-venture partnership with Lionstone Investments. Bank OZK is the lender.

Chapter Building I, located at 4530 12th Ave. NE, is a 12-story property with 240,000-square-feet of Class-A office space and ground floor retail. Chapter Building II features 10 stories of Class-A life science, R&D and office space with ground floor retail. Both buildings are expected to deliver in early 2024.

“We are thrilled to be partnering with Lionstone on this transformative project in the University District, Seattle’s fastest growing neighborhood. Lionstone is a great fit for this project because of their extensive experience with life science assets, and because of their proven track record on large-scale, mixed-use development,” said Touchstone CEO Pat Callahan.

Both buildings will be built to LEED Gold certification standards, and are designed with a new level of health, safety and wellness in mind. CBRE represented Touchstone and Portman Holdings in sourcing joint venture equity investment.


Inside The Story

TouchstonePortman HoldingsLionstone Investments

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.

  • ◦Development
  • ◦Financing