REBusinessOnline

CBRE Arranges $160M in Financing for 40-Story Apartment Building in Seattle

McKenzie-Seattle-WA

The 40-story McKenzie Seattle tower features 450 apartments in a mix of studio, one-, two- and three-bedroom layouts.

SEATTLE — CBRE has secured a $160 million permanent loan for McKenzie Seattle, a 40-story for-rent residential property located at 2202 Eighth Ave. in Seattle.

Completed in August 2018, the elliptical tower features 450 apartments in a mix of studio, one-, two- and three-bedroom penthouse layouts and 379 parking spaces. On-site amenities include a fitness center on the 39th floor, a common area with deck on the 40th floor, a private spa retreat and a 24/7 tenant concierge. Wild Ginger, a restaurant, occupies the ground-floor retail space.

David Stinebaugh and Mark Capeloto of CBRE’s Seattle office arranged the financing for the borrower, a subsidiary of Seattle-based Clise Properties. The fixed-rate, 10-year loan was closed as the property approaches stabilized occupancy. Northwestern Mutual Life Insurance Co. provided the financing.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.



Related News

Webinars on Demand


Conferences


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties