Monday, November 23, 2015

HFF secures $38.87 million acquisition financing for SeaTac Office Center in Seattle, WA



SeaTac Office Center, 17900, 17930 and 18000 Pacific Highway South,
15 miles south of Seattle in SeaTac, WA
 


Bruce Ganong
PORTLAND, OR – Nov. 23, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $38.87 million in acquisition financing for SeaTac Office Center, a 538,979-square-foot office complex immediately adjacent to SeaTac International Airport in the Seattle, Washington area. 

Working on behalf of a joint venture between Urban Renaissance Group and Iron Point Partners, HFF placed the floating-rate bridge loan with Bank of America.  Additionally, HFF was involved in the $47.1 million sale of the property, representing the seller, ScanlanKemperBard Companies.

SeaTac Office Center is a three-building, high-rise office campus that is 63 percent leased to multiple tenants including national credit tenants and governmental agencies. 

The property features a fitness facility with showers and lockers, and a full-service deli and restaurant as well as views of Mount Rainier and the Olympic Mountains.  The buildings are located at 17900, 17930 and 18000 Pacific Highway South, 15 miles south of Seattle in SeaTac. 

The transit-oriented location provides tenants access to the adjacent Link Light Rail, Metro Bus Rapid Transit and nearby vehicular arteries including Interstate 5 and Highway 99.  

HFF’s debt placement team representing the borrower was led by senior managing director Bruce Ganong and associate director Erica Christensen.

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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