HFF Facilitates Olympic Block Deal
Lender interest in Seattle properties isn't slacking off in the new interest rate environment. HFF's Casey Davidson tells us lenders are still keen to work with sophisticated and established buyers. Case in point: Casey, along with colleagues Paul Brindley, Nick Kucha and Todd Tydlaska, arranged financing for Brickman's aquisition of the 70k SF Olympic Block Building, a mixed-use, creative tech building in Pioneer Square with a storied history.
"We were able to work closely with our investment sales team on an asset that's squarely located in Pioneer Square," Casey notes. HFF marketed the property on behalf of the seller, an affiliate of Lincoln Property. Brickman purchased it for $22.4M, and HFF assisted the new owner in securing a $15.5M, 36-month, fixed-rate acquisition loan by Natixis Real Estate Capital.