CBRE Arranges Sale, Financing of Eight-Building Flex Portfolio in Redmond, Washington
REDMOND, WASH. — CBRE Capital Markets has brokered the sale of Redmond East Business Campus, an eight-building office and flex portfolio located near downtown Redmond. A closed-end fund managed by Kennedy Wilson acquired the asset for an undisclosed price.
Thomas Pehl and Lou Senini of CBRE’s Seattle office represented the undisclosed seller in the deal. Brad Zampa, Mike Walker and Megan Woodring of CBRE’s San Francisco office arranged $34.5 million in balance-sheet bank financing for the buyer. A national financial services company provided the seven-year, non-recourse, full-term, interest-only, floating-rate acquisition financing.
Located at 6724-6565 185th Ave. NE and 18758-18640 NE 67th Court, Redmond East is a 292,100-square-foot, institutional quality property currently 98 percent leased to nine tenants.