HFF closes $73.75 million sale of and arranges financing for landmark office tower in Seattle’s Pioneer Square

Smith Tower, 506 Second Avenue, Downtown Seattle, WA

Gerry Rohm

PORTLAND, OR – HFF announced it has closed the $73.75 million sale of and arranged financing for Smith Tower, a 268,748-square-foot, historic office tower and adjacent two-story Florence Building in Pioneer Square in downtown Seattle, Washington.

                HFF marketed the property on behalf of the seller and sold the property to Unico Properties LLC, a Seattle-based real estate investment and operating company.  Additionally, HFF placed a bank loan on behalf of the buyer with a foreign bank.

                The iconic Smith Tower is listed on the National Registry of Historic Places and is a City of Seattle Landmark.  

When Smith Tower was originally built in 1914, it was the tallest building west of the Mississippi until 1931 and the tallest building on the West Coast until 1962.

Nick Kucha

 In 2012-2013, the 42-story tower was substantially renovated.  Located at 506 Second Avenue in downtown Seattle, the property is adjacent to the Pioneer Square and King Street train stations and within walking distance to the Seattle Ferry Terminal in downtown Seattle. 

                The HFF investment sales team was led by senior managing director Gerry Rohm, director Nick Kucha and senior real estate analyst James Childress.

HFF’s debt placement team was led by managing director Tom Wilson and senior real estate analyst Erica Christensen.

                Unico Properties LLC is a real estate investor and full-service operator, focused on office and multifamily assets in the western United States.

  For nearly 60 years, its investors and partners have relied on Unico for its local knowledge, institutional rigor, and boutique service, which consistently deliver results.  Founded in 1953, Unico is headquartered in Seattle, Washington.

Erica Christensen

 With more than 10 million square feet of LEED-certified properties, the company is a leader in sustainable best practices, developing and managing some of the world’s highest performing green buildings, and transforming the built environment.

  For more information about Unico, please visit the firm’s website at www.unicoprop.com.

For a complete copy of the company’s news release, please contact:

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com