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Cushman & Wakefield arranges $107M refinancing for Seattle mixed-use
The deal covers a 717,692-square-foot building with an office tower and a Hilton Embassy Suites, and was originated by Stoneway Capital on behalf of Ardent Capital Management.
Cushman & Wakefield has arranged a $107 million refinancing for 255 South King Street, a mixed-use property in Seattle, according to ConnectCRE.
The transaction was arranged by Dave Karson, Chris Moyer and Chris Meloni on behalf of an affiliate of Steinhauer Properties, the borrower, while Stoneway Capital originated the loan on behalf of Ardent Capital Management.
The 717,692-square-foot property includes a 209,484-square-foot office tower and a 282-room Hilton Embassy Suites hotel with about 10,000 square feet of meeting and event space, plus amenities such as a pool, fitness center, parking garage and retail.
In remarks included with the deal, Karson said the refinancing reflects renewed interest in high-quality assets with strong cash flow as office and hotel are seen to have been out of favor in Seattle in recent years.