{"id":1004768714,"date":"2025-08-19T01:42:17","date_gmt":"2025-08-19T09:42:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004768714"},"modified":"2025-08-19T01:52:02","modified_gmt":"2025-08-19T09:52:02","slug":"hudson-pacific-jv-lands-285m-for-seattle-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/","title":{"rendered":"Hudson Pacific JV Lands $285M for Seattle Tower"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/1918-8th-Ave.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"800\" data-attachment-id=\"1004768715\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/1918-8th-ave\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/1918-8th-Ave.jpg\" data-orig-size=\"640,800\" data-comments-opened=\"0\" 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;\\u00a9 Yardi Systems, Inc.&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;0&quot;}\" data-image-title=\"1918 8th Ave\" data-image-description=\"&lt;p&gt;Image from Yardi Matrix&lt;\/p&gt;\n\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/1918-8th-Ave.jpg?w=640\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/1918-8th-Ave.jpg\" alt=\"Exterior shot of 1918 Eighth Ave., an office building in Seattle.\" class=\"wp-image-1004768715\" style=\"width:auto;height:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/1918-8th-Ave.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/1918-8th-Ave.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><figcaption class=\"wp-element-caption\">Completed in 2009, the 36-story building is 1 mile from downtown Seattle. <em>Image courtesy of Yardi Research Data<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>A joint venture between Hudson Pacific Properties and the Canada Pension Plan Investment Board has obtained a $285 million CMBS loan for 1918 Eighth Ave., a 667,724-square-foot Seattle office tower. Wells Fargo Bank originated the five-year note.<\/p>\n\n\n\n<p>The owner also contributed $40 million in equity and will use the funds to refinance existing debt and cover closing costs.<\/p>\n\n\n\n<p>Previous financing includes a $314.3 million permanent loan originated by Wells Fargo Bank in December 2020, according to Yardi Research Data. That note was used in the asset&#8217;s $625.9 million acquisition from institutional investors advised&nbsp;by JP Morgan Asset Management.<\/p>\n\n\n\n<p>Completed in 2009, the 36-story tower has 6,938 square feet of first-floor retail space, floorplates averaging 19,900 square feet and 13 passenger elevators. Amenities include a fitness center, a 120-person conference facility and media centers.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/seattle-office-sales-stumble-pipeline-dwindles\/\">Seattle Office Sales Stumble, Pipeline Dwindles<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Amazon fully occupies the LEED Platinum-certified building. The firm has been the property&#8217;s tenant since 2010 and gradually expanded its presence, the current lease expiring in 2030. Over the last two years, the ecommerce giant implemented an $81 million renovation plan, which included upgrading the lobby, amenity floors, caf\u00e9 and showers.<\/p>\n\n\n\n<p>The transit-oriented high-rise is close to Interstate 5 and 1 mile from downtown Seattle. King County International Airport&nbsp;is less than 7 miles away.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-seattle-office-prices-remain-below-national-average\">Seattle office prices remain below national average<\/h2>\n\n\n\n<p>Seattle\u2019s office investment volume year-to-date as of June clocked in at $275 million, according to the latest <a href=\"https:\/\/www.commercialsearch.com\/news\/office-report-maturities-rise-as-vacancies-intensify\/\">Yardi Matrix office report<\/a>. Assets in the metro traded for $124 per square foot on average, considerably below the $189 national threshold.<\/p>\n\n\n\n<p>In June, Shorenstein Investment Advisors <a href=\"https:\/\/www.commercialsearch.com\/news\/shorenstein-offloads-seattle-area-office-assets\/\">closed two transactions<\/a> at The Spring District, a mixed-use property in Bellevue, Wash. The firm transferred the controlling interest in two office buildings totaling 670,000 square feet to Blackstone and sold a 200,000-square-foot asset to Drawbridge Realty.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amazon fully occupies the 36-story building.<\/p>\n","protected":false},"author":3355,"featured_media":1004768717,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21742,21747,1610,15],"tags":[33308,35826,35295,32779,33215],"class_list":["post-1004768714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-latest","category-office","category-seattle","category-west","tag-canada-pension-plan-investment-board","tag-cmbs","tag-hudson-pacific-properties","tag-leed","tag-wells-fargo-bank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hudson Pacific JV Lands $285M for Seattle Tower - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Hudson Pacific Properties and the Canada Pension Plan Investment Board obtained a $285 million CMBS loan for 1918 Eighth Ave. in Seattle.\" \/>\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\/hudson-pacific-jv-lands-285m-for-seattle-tower\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hudson Pacific JV Lands $285M for Seattle Tower\" \/>\n<meta property=\"og:description\" content=\"Hudson Pacific Properties and the Canada Pension Plan Investment Board obtained a $285 million CMBS loan for 1918 Eighth Ave. in Seattle.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/\" \/>\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=\"2025-08-19T09:42:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-19T09:52:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/1918-8th-Ave-1-e1755594201942.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\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\/hudson-pacific-jv-lands-285m-for-seattle-tower\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/\",\"name\":\"Hudson Pacific JV Lands $285M for Seattle Tower - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/1918-8th-Ave-1-e1755594201942.jpg\",\"datePublished\":\"2025-08-19T09:42:17+00:00\",\"dateModified\":\"2025-08-19T09:52:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\"},\"description\":\"Hudson Pacific Properties and the Canada Pension Plan Investment Board obtained a $285 million CMBS loan for 1918 Eighth Ave. in Seattle.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/1918-8th-Ave-1-e1755594201942.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/1918-8th-Ave-1-e1755594201942.jpg\",\"width\":640,\"height\":480,\"caption\":\"Completed in 2009, the 36-story building is 1 mile from downtown Seattle. Image courtesy of Yardi Research Data\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Hudson Pacific JV Lands $285M for Seattle Tower\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\",\"name\":\"Vicentiu Fusea\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g\",\"caption\":\"Vicentiu Fusea\"},\"description\":\"Vicentiu Fusea is an associate editor with Commercial Property Executive and Multi-Housing News. He has joined the CPE-MHN team in 2023. Vicentiu writes stories mainly focusing on the student housing, office and MOB markets. You can reach out to him at vicentiu.fusea@cpe-mhn.com.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/vicentiu-fusea\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Hudson Pacific JV Lands $285M for Seattle Tower - Commercial Property Executive","description":"Hudson Pacific Properties and the Canada Pension Plan Investment Board obtained a $285 million CMBS loan for 1918 Eighth Ave. in Seattle.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/","og_locale":"en_US","og_type":"article","og_title":"Hudson Pacific JV Lands $285M for Seattle Tower","og_description":"Hudson Pacific Properties and the Canada Pension Plan Investment Board obtained a $285 million CMBS loan for 1918 Eighth Ave. in Seattle.","og_url":"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2025-08-19T09:42:17+00:00","article_modified_time":"2025-08-19T09:52:02+00:00","og_image":[{"width":640,"height":480,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/1918-8th-Ave-1-e1755594201942.jpg","type":"image\/jpeg"}],"author":"Vicentiu Fusea","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/","url":"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/","name":"Hudson Pacific JV Lands $285M for Seattle Tower - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/1918-8th-Ave-1-e1755594201942.jpg","datePublished":"2025-08-19T09:42:17+00:00","dateModified":"2025-08-19T09:52:02+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412"},"description":"Hudson Pacific Properties and the Canada Pension Plan Investment Board obtained a $285 million CMBS loan for 1918 Eighth Ave. in Seattle.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/1918-8th-Ave-1-e1755594201942.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/1918-8th-Ave-1-e1755594201942.jpg","width":640,"height":480,"caption":"Completed in 2009, the 36-story building is 1 mile from downtown Seattle. Image courtesy of Yardi Research Data"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-jv-lands-285m-for-seattle-tower\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Hudson Pacific JV Lands $285M for Seattle Tower"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412","name":"Vicentiu Fusea","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g","caption":"Vicentiu Fusea"},"description":"Vicentiu Fusea is an associate editor with Commercial Property Executive and Multi-Housing News. He has joined the CPE-MHN team in 2023. Vicentiu writes stories mainly focusing on the student housing, office and MOB markets. You can reach out to him at vicentiu.fusea@cpe-mhn.com.","url":"https:\/\/www.commercialsearch.com\/news\/author\/vicentiu-fusea\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/1918-8th-Ave-1-e1755594201942.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004768714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/3355"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004768714"}],"version-history":[{"count":7,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004768714\/revisions"}],"predecessor-version":[{"id":1004768739,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004768714\/revisions\/1004768739"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004768717"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004768714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004768714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004768714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}