{"id":1004129487,"date":"2015-10-15T06:46:21","date_gmt":"2015-10-15T14:46:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004129487"},"modified":"2020-04-16T02:10:19","modified_gmt":"2020-04-16T10:10:19","slug":"cushman-wakefield-arranges-generous-financing-in-suburban-seattle","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-arranges-generous-financing-in-suburban-seattle\/","title":{"rendered":"C&W Swings Top-Tier Loan For Bellevue’s Tallest Tower"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/em><\/p>\n

Cushman & Wakefield<\/a> knows how to get lenders to dig deep into their pockets. The commercial real estate services firm recently arranged a $220 million loan through TIAA-CREF for Kemper Development Co.\u2019s refinancing of the 538,700-square-foot Eddie Bauer Building, the tallest office tower in Bellevue, Wash.<\/p>\n

Good for Kemper. \u201cWe were able to secure a loan that allowed the owner to repatriate tens of millions of dollars of equity while lowering their total borrowing cost,\u201d Dave Karson, an executive managing director with C&W, told Commercial Property Executive<\/em>.<\/p>\n

\"Dave<\/a>

Dave Karson, Cushman & Wakefield<\/p><\/div>\n

C&W had quite a bit to work with when it approached the lending community on Kemper\u2019s behalf. First off, Kemper is no slouch, so quality sponsorship was brought to the table. Then there\u2019s the asset. The Eddie Bauer Building has been fully occupied by Microsoft Corp. and the headquarters office of clothing and outdoor gear company Eddie Bauer since Kemper completed development of the 28-story trophy tower in 2007.<\/p>\n

And there\u2019s more for a lender to love. The premier office property boasts a prime location in the center of Kemper\u2019s massive 4 million-square-foot Bellevue Collection mixed-use development, which is about to grow even larger with the real estate company\u2019s 1.5 million-square-foot Lincoln Square Expansion project.<\/p>\n

\u201cTIAA offered a loan that allowed the borrower to maximize net cash flow from the asset during the expansion and subsequent lease-up of the adjacent property, while locking up a historically low interest rate for the long term,\u201d Karson said.<\/p>\n

The stars are aligned for such transactions. As Karson added, \u201cIn today’s market, there are scenarios where it is economically viable to defease your existing loan and replace it with more flexible and attractive long-term financing.\u201d<\/p>\n

C&W has certainly been getting the job done for Kemper lately. In September, the firm orchestrated a $526 million construction-to-permanent loan through an affiliate of CPPIB Credit Investments Inc. for the Lincoln Square Expansion. And in June, C&W arranged the $110 million refinancing of The Westin Bellevue hotel<\/a> on the real estate company\u2019s behalf with a loan provided by MetLife.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The global CRE giant knows how to get lenders to dig deep into their pockets. <\/p>\n","protected":false},"author":969,"featured_media":1004129490,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21783,21742,21747,15],"tags":[],"class_list":["post-1004129487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-investment","category-latest","category-office","category-west"],"acf":[],"yoast_head":"\nC&W Swings Top-Tier Loan For Bellevue's Tallest Tower - 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\/cushman-wakefield-arranges-generous-financing-in-suburban-seattle\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"C&W Swings Top-Tier Loan For Bellevue's Tallest Tower\" \/>\n<meta property=\"og:description\" content=\"The global CRE giant knows how to get lenders to dig deep into their pockets.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-arranges-generous-financing-in-suburban-seattle\/\" \/>\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=\"2015-10-15T14:46:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-16T10:10:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/Dave-Karson-Cushman-Wakefield.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"674\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\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\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cushman-wakefield-arranges-generous-financing-in-suburban-seattle\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cushman-wakefield-arranges-generous-financing-in-suburban-seattle\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"C&W Swings Top-Tier Loan For Bellevue’s Tallest Tower\",\"datePublished\":\"2015-10-15T14:46:21+00:00\",\"dateModified\":\"2020-04-16T10:10:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cushman-wakefield-arranges-generous-financing-in-suburban-seattle\\\/\"},\"wordCount\":376,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cushman-wakefield-arranges-generous-financing-in-suburban-seattle\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/10\\\/Dave-Karson-Cushman-Wakefield.jpg\",\"articleSection\":[\"Finance\",\"Investment\",\"News\",\"Office\",\"West\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cushman-wakefield-arranges-generous-financing-in-suburban-seattle\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cushman-wakefield-arranges-generous-financing-in-suburban-seattle\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cushman-wakefield-arranges-generous-financing-in-suburban-seattle\\\/\",\"name\":\"C&W Swings Top-Tier Loan For Bellevue's Tallest Tower - 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