REBusinessOnline

HFF Secures $32.5M Acquisition Financing for Old Rainier Brewery Mixed-Use Campus in Seattle

Original-Rainier-Brewery-Seattle-WA

REI, Patagonia, Keen, Elysian Brewing Co., Frans Chocolate and Kyoto Art and Antiques are tenants at the Original Rainier Brewery in Seattle’s historic Georgetown neighborhood.

SEATTLE — HFF has arranged $32.5 million in financing for the acquisition of the Original Rainier Brewery, a mixed-use campus located at 5624-6004 Airport Way South in Seattle’s historic Georgetown neighborhood.

Tom Wilson and Zachary Kersten of HFF secured a three-year, floating-rate loan with two one-year extension options with a debt fund for the borrower, ScanlanKemperBard. The borrower plans to make improvements to the property.

Originally built in the early 1990s as a brewery for Seattle Brewing and Malting Co., the property eventually housed Rainier Beer and is a designated landmark. The campus encompasses four separate buildings — the Bottling Plant, the Malt House, the Warehouse and the General Office — and two land parcels.

The assets feature natural light, exposed brick, original flooring, historical detailing and unique layouts. At the time of financing, the property was 92 percent leased to 55 tenants, including REI, Patagonia, Keen, Elysian Brewing Co., Frans Chocolate and Kyoto Art and Antiques.

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



Related News

Updated daily:
How Will COVID-19 Impact the Commercial Real Estate Industry?
Click here.

COVID-19 Webinars: Learn more about the CRE industry's response to the coronavirus. Sign up.

Watch On Demand:

Conferences
There are no upcoming events at this time.

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