CBRE Secures $115.5M Refinancing for The Danforth Apartment Building in Seattle
SEATTLE — CBRE has arranged $115.5 million in refinancing for The Danforth, a 16-story multifamily property located at 1425 Spring St. in Seattle’s First Hill neighborhood.
The borrower acquired the 265-unit apartment property in December 2019 from the project developer, Columbia Pacific Advisors. John Lo of CBRE’s Capital Markets’ Debt & Structured Finance group secured the loan from a European lender on behalf of the borrower, an affiliate of the Vanbarton Group.
Built in 2018, The Danforth is 96 percent leased and includes a two-level, 45,000-square-foot organic supermarket chain on the ground floor, as well as other residential amenities. The property is located at the corner of Broadway and East Madison Street and offers 358 underground parking stalls.