{"id":1004163591,"date":"2017-01-10T09:14:09","date_gmt":"2017-01-10T17:14:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004163591"},"modified":"2022-12-08T11:30:43","modified_gmt":"2022-12-08T19:30:43","slug":"george-smith-partners-secures-73m-loan-for-seattle-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/george-smith-partners-secures-73m-loan-for-seattle-office-asset\/","title":{"rendered":"George Smith Partners Secures $73M Loan for Seattle Office Asset"},"content":{"rendered":"<p>By Adina Marcut<\/p>\n<div id=\"attachment_1004163594\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/42-1599-Seattle-Design-Center.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004163594\" data-attachment-id=\"1004163594\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/george-smith-partners-secures-73m-loan-for-seattle-office-asset\/42-1599-seattle-design-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/42-1599-Seattle-Design-Center.jpg\" data-orig-size=\"800,483\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"42-1599 Seattle Design Center\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/42-1599-Seattle-Design-Center.jpg?w=800\" class=\"wp-image-1004163594 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/42-1599-Seattle-Design-Center.jpg\" alt=\"Seattle Design Center\" width=\"300\" height=\"181\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/42-1599-Seattle-Design-Center.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/42-1599-Seattle-Design-Center.jpg?resize=300,181 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/42-1599-Seattle-Design-Center.jpg?resize=768,464 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004163594\" class=\"wp-caption-text\">Seattle Design Center<\/p><\/div>\n<p><strong>Seattle<\/strong>\u2014George Smith Partners has lined up a $73 million non-recourse bridge loan for the conversion, renovation and stabilization of the Seattle Design Center on behalf of Greenbridge Investment Partners, a full-service commercial real estate firm.<\/p>\n<p>The design center, comprising two buildings situated in the Georgetown submarket of Seattle, historically served as a well-known destination for high-end home furnishings and design services. Since acquiring the property in 2014, Greenbridge Investment Partners rebranded the buildings into a 157,000 square-foot asset called Seattle Design Center and a 280,000 square-foot asset called Georgetown Squared (G2).<\/p>\n<p>\u201cSeattle\u2019s creative office market is flourishing, and shows no signs of slowing in the near future, (\u2026) vacancy rates have reached pre-recession lows, and tech giants such as Amazon and Facebook are expanding in the market.\u00a0 This activity fuels a deeper demand for creative office, and presents an opportunity for owners who are in a position to deliver creative space to the market,\u201d Steve Bram, principal at George Smith Partners, said in a statement.<\/p>\n<p>Greenbridge\u2019s G2 office building, located at 5601 &amp; 5701 Sixth Ave. in Seattle, will offer a full creative environment with expansive 60,000-square-foot floorplates, exposed ceilings and concrete floors, glass walls for natural light and full-service amenities, including an upscale fitness center and conference center.<\/p>\n<p>The financing was arranged by George Smith Partners Principal Steve Bram.<\/p>\n<p><em>Image courtesy of George Smith Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The financing will be used for the conversion, renovation and stabilization of the Seattle Design Center.<\/p>\n","protected":false},"author":436,"featured_media":1004163594,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21783,21742,21747,1610,15],"tags":[33306],"class_list":["post-1004163591","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-investment","category-latest","category-office","category-seattle","category-west","tag-george-smith-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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