{"id":1004127574,"date":"2015-09-16T12:52:06","date_gmt":"2015-09-16T20:52:06","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=360884"},"modified":"2022-03-02T23:16:24","modified_gmt":"2022-03-03T07:16:24","slug":"medical-marvel-downtown-seattle-building-scores-financing-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/medical-marvel-downtown-seattle-building-scores-financing-deal\/","title":{"rendered":"Medical Marvel: Downtown Seattle Building Scores Financing Deal"},"content":{"rendered":"

By Alex Girda, Associate Editor<\/em><\/p>\n

Goodman Real Estate<\/a> was recently granted a $69.5 million loan for its Medical Dental Building. The HFF<\/a> debt placement team tasked with arranging the financing was led by Managing Director Casey Davidson. The company managed to secure the 20-year, fixed-rate loan with AXA Equitable Life Insurance Co.<\/a> through Quadrant Real Estate Advisors<\/a>.<\/p>\n

\"Medical<\/a><\/p>\n

Medical Dental Building<\/p>\n<\/div>\n

Located at 509 Olive Way in Seattle\u2019s downtown, the Medical Dental Building offers a total of 294,286 square feet of space. It took two phases to build the asset in 1925 and 1950, and the property\u2019s last major renovation took place in 2008, when around $25 million was invested in upgrades and new lobby finishes, according to a press statement.<\/p>\n

The Medical Dental Building currently operates at just 3 percent vacancy, with a robust tenant roster that features 150 names. The Bartell Drug Co. pharmacy occupies 12,606 square feet of the 18-story building\u2019s ground-floor retail space, while Seattle Executive Fitness is also a tenant at the site. However, according to Davidson, family-owned medical practices make up most of the property\u2019s tenant base.<\/p>\n

Image courtesy of goodmanre.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

HFF recently arranged financing for a historic medical office building in Seattle’s downtown.<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1610],"tags":[682],"class_list":["post-1004127574","post","type-post","status-publish","format-standard","hentry","category-latest","category-seattle","tag-news"],"acf":[],"yoast_head":"\nMedical Marvel: Downtown Seattle Building Scores Financing Deal - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/medical-marvel-downtown-seattle-building-scores-financing-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Medical Marvel: Downtown Seattle Building Scores Financing Deal\" \/>\n<meta property=\"og:description\" content=\"HFF recently arranged financing for a historic medical office building in Seattle’s downtown.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/medical-marvel-downtown-seattle-building-scores-financing-deal\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-09-16T20:52:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-03T07:16:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/Medical-Dental-Building.jpg\" \/>\n<meta name=\"author\" content=\"Alex Girda\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/medical-marvel-downtown-seattle-building-scores-financing-deal\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/medical-marvel-downtown-seattle-building-scores-financing-deal\/\",\"name\":\"Medical Marvel: Downtown Seattle Building Scores Financing Deal - 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