REBusinessOnline

Newmark Knight Frank Brokers $305M Sale of 901 Fifth Office Tower in Seattle

SEATTLE — Newmark Knight Frank (NFK) has brokered the $305 million sale of 901 Fifth Office Tower, a 41-story, 541,190-square-foot property at the corner of Fifth Avenue and Madison Street in downtown Seattle. NKF’s Kevin Shannon, Nick Kucha, Michael Moll, Rob Hannan and Ken White represented the seller, a partnership of Schnitzer West and Investcorp, in the transaction. HFF represented the buyer, Vanbarton Group. 901 Fifth Office Tower encompasses nearly a full city block and is 100 …

Acquisitions, Office, Washington, Western

Loja Real Estate Acquires Pair of Western Shopping Centers for $34.4M

LITTLETON, COLO., AND WOODINVILLE, WASH. — Loja Real Estate has acquired two shopping centers in Colorado and Washington for a combined $34.4 million. Loja purchased Village West in the Denver suburb of Littleton for $19.4 million. TJ Maxx anchors the property. Palmer Capital represented the unnamed seller in the transaction. Loja bought Woodgate Center in the Seattle-area city of Woodinville for $15 million. Capital Pacific represented the unnamed seller in the …

Acquisitions, Colorado, Retail, Washington, Western

Alliance Residential to Develop Assisted Living Community Near Seattle

BELLEVUE, WASH. — Alliance Residential Co. is entering into the Bellevue market with a new construction senior living community to open in 2021. The property, Holden of Bellevue, will be a 136-unit assisted living and memory care facility located at 112th Ave. NE in Bellevue’s Highlands community. Architecture firm Ankrom Moisan designed the mid-rise building, and Alliance Pacific Northwest Builders was the general …

Development, Multifamily, Seniors Housing, Washington, Western

Hines Breaks Ground on 17-Story Office Tower in Bellevue Fully Leased to Amazon

BELLEVUE, WASH. — Hines has broken ground on Summit 3, a 17-story office tower located in downtown Bellevue, a suburb of Seattle situated on the shores of Lake Washington. The Houston-based development firm has preleased the Class A, 374,220-square-foot office building to a tenant it did not disclose, but the Puget Sound Business Journal reports that Amazon has leased the entire tower with plans to grow its Bellevue employee base to 2,500 by 2020. The Seattle Times reported last week …

Development, Office, Top Stories, Washington, Western

Binjiang, Molasky Buy Multifamily Development Site for $11.3M in Bellevue, Washington

BELLEVUE, WASH. — Holly Yang and Mike Yeh of Kidder Mathews have negotiated the $11.3 million sale of a 16,674-square-foot multifamily development site at 10050 NE 10th St. in downtown Bellevue. Binjiang Limited Partnership and The Molasky Group of Companies purchased the property. Binjiang is a subsidiary of Binjiang Real Estate, a Chinese publicly traded real estate company. Aotong Bellevue 10th Street LLC, a private real estate investor located in Kirkland, Wash., was the seller. Aotong …

Development, Multifamily, Washington, Western

Marcus & Millichap Brokers $6M Sale of Self-Storage Facility in Metro Seattle

BOTHELL, WASH. — Marcus & Millichap has brokered the $6 million sale of Affordable Self Storage, a 38,725-square-foot facility in Bothell. Christopher R. Secreto of Marcus & Millichap’s Seattle office marketed the 290-unit property on behalf of the seller, a partnership based in Washington, and secured the unnamed buyer. Affordable Self Storage is located at 1621 196th St. SE. The facility was built in 1983 on a two-acre …

Acquisitions, Industrial, Self-Storage, Washington, Western

Vanbarton Group Purchases Seattle’s 901 Fifth Avenue Office Tower for $305M

SEATTLE — Vanbarton Group, a privately owned real estate investment and advisory firm, has purchased 901 Fifth Ave. from Schnitzer West and Investcorp for $305 million. The 541,190-square-foot, 41-story tower is located at the corner of Fifth Avenue and Madison Street in Seattle’s central business district. Schnitzer West will continue to perform property management services for the tower, which is 100 percent occupied by tenants including Pitchbook and Cray Inc. HFF and Newmark Knight …

Acquisitions, Office, Washington, Western

EQ Office to Reposition Seattle Office Towers

SEATTLE — EQ Office, an office portfolio operating company wholly owned by the Blackstone Group, has acquired U.S. Bank Centre and 999 Third Ave. in Seattle. The acquisitions increase EQ's investment to 3.1 million rentable square feet of Class A office space in the city. EQ will manage both properties and plans to reposition them to accommodate Seattle's evolving workforce. Both buildings are located in Seattle’s central business district. Tenants include U.S. Bank, DocuSign and Wells …

Acquisitions, Office, Washington, Western

NBS Financial Secures $5.5M in Financing for Soundview Apartments in Seattle

SEATTLE — Norris, Beggs & Simpson Financial Services has arranged $5.5 million in financing for Soundview Apartments in Seattle. The borrower, RSA Soundview LLC, plans to use the funds to refinance existing debt. Michael Wood and Colin Ceithaml of NBS Financial secured the non-recourse, fixed-rate financing through State Farm Life Insurance Co., a life company correspondent of NBS Financial. The 108,066-square-foot property features 85 apartments, a parking garage, rooftop deck, …

Loans, Multifamily, Washington, Western

Vibrant Cities Receives $31.3M in Construction Financing for Mixed-Use Project in Seattle

SEATTLE — Vibrant Cities has received $31.3 million in construction financing for the development of Pivot, a mixed-use property in Seattle’s Capitol Hill neighborhood. Brandon Roth and Zack Goodwin of HFF secured the five-year, floating-rate loan through H.I.G. Realty Partners for the borrower. The project will replace an existing parking lot with a pedestrian-inspired development along the Pike/Pine corridor. Once complete, Pivot will features 71 apartments above a sub-grade parking …

Development, Loans, Mixed-Use, Multifamily, Office, Retail, Washington, Western
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