HFF announces $17.8M refinancing of Nexus Canyon Park in Bothell, WA

Nexus Canyon Park Research Center, Bothell, WA

Olga Walsh

SAN DIEGO, CA – Aug. 22, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces a $17.8 million refinancing of Nexus Canyon Park Research Center, a 141,982-square-foot life science and flex/R&D building in the Seattle suburb of Bothell, Washington. 

The HFF team worked on behalf of the borrower, San Diego-based Nexus Properties, Inc. to secure the non-recourse, three-year, floating-rate loan through one of its bank relationships. 

The building is located within the Canyon Park Business Center just north of Interstate 405, approximately 15 miles northeast of downtown Seattle.  Situated on 6.96 acres, the two-story property is 37.8 percent leased to Epoch Pharmaceuticals, Qilu Puget Sound Biotherapeutics Corp. and Acucela.

 Having recently undergone a repositioning of approximately half of the building area, the loan facility will provide adequate dollars to finish the lease-up and stabilization of the asset.

Zack Holderman

The HFF debt placement team representing the borrower included senior managing director Tim Wright, senior director Zack Holderman and senior associate Olga Walsh.

“The quality and commitment of Nexus Properties to the asset allowed us to identify a qualified lender to provide a strong non-recourse loan to complete the business plan,” said Holderman.

 Founded in 1979, Nexus Properties, Inc. is a developer of high-quality corporate facilities, biotech laboratories and flex research and development properties throughout California, Washington and other markets.  www.nexusprop.com

For more information on this news release, please contact:

Kristen M. Murphy

Director, Public Relations

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

krmurphy@hfflp.com