HFF recently secured $170M in refinancing for the 901 Fifth Ave. building, a 540K SF Class-A office tower in downtown Seattle.
The HFF team secured the loan on behalf of the borrower, a joint venture between Investcorp International Realty Inc. and Schnitzer West. HFF secured the loan through HSBC.
The building is in Seattle’s central business district, one block from the Third Avenue transportation corridor that houses the Link light rail and several bus lines. The property is one block from Interstate 5.
Built in 1998, the building underwent a $7M renovation, including lobby and conference room updates and executive boardroom improvements.
The building is almost completely leased to tenants including the city of Seattle, St. Jude, State Farm Mutual, SVB Financial Group, AllState Insurance, Washington State University, the Federal Home Loan Bank of Des Moines and Pitchbook Inc.
The HFF debt replacement team representing the borrower consisted of Senior Managing Directors Michael Gigliotti and Tom Wilson and Executive Managing Director Michael Tepedino.
