CBRE Places $32.5M in Financing for Seattle South Lake Union Office Building


Located in Seattle’s South Lake Union submarket, the four-story 425 Pontius features 75,000 square feet of office space. (Credit: Soundview Photography)

SEATTLE — CBRE, on behalf of Swift Real Estate Partners, has placed $32.5 million in financing for 425 Pontius, an office building located in Seattle’s South Lake Union neighborhood. The borrower acquired the property in March 2022.

Swift Real Estate Partners will use the financing for the acquisition and renovation of the four-story, 75,000-square-foot office building. The property features four stories of office space, surface parking and two levels of underground parking. The building was originally constructed in 1982 and underwent a lobby renovation in 2018. Swift plans to reposition the asset into creative office space and renovate the exterior and make cosmetic upgrades to the lobby, elevators and common areas.

Mike Walker and Brad Zampa of CBRE’s San Francisco office, alongside Jeff Henderson in the Seattle office, arranged the four-year, floating-rate loan through an undisclosed West Coast-based bank. Tom Pehl and Charles Safley of CBRE’s Pacific Northwest-based capital markets team advised the seller, a local private partnership, in the sale of the property in March.


Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

Subscribe to the newsletter

Webinars on Demand

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties