{"id":1004807853,"date":"2026-08-06T05:37:34","date_gmt":"2026-08-06T13:37:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004807853"},"modified":"2026-08-06T07:42:37","modified_gmt":"2026-08-06T15:42:37","slug":"brookfield-premier-to-land-210m-for-seattle-office-buildings","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/brookfield-premier-to-land-210m-for-seattle-office-buildings\/","title":{"rendered":"Brookfield to Land $210M for Seattle Office Buildings"},"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\/2026\/08\/image_81d8ed.png\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"480\" data-attachment-id=\"1004807862\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/image-95\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/image_81d8ed-edited.png\" data-orig-size=\"640,480\" 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;&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=\"Block 16 in Bellevue, Wash.\" data-image-description=\"&lt;p&gt;Image courtesy of Yardi Matrix.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The asset rises 11 stories.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/image_81d8ed-edited.png?w=640\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/image_81d8ed-edited.png\" alt=\"Exterior shot of Block 16, an office building in Bellevue, Wash.\" class=\"wp-image-1004807862\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/image_81d8ed-edited.png 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/image_81d8ed-edited.png?resize=300,225 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><figcaption class=\"wp-element-caption\">Block 16 came online in 2019 as part of the mixed-use redevelopment project Spring District, in Bellevue, Wash. <br><em>Image courtesy of Yardi Matrix<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Brookfield Premier Real Estate Partners is set to secure a $210 million refinancing loan for Block 16 and Block 24, two Class A office buildings in Bellevue, Wash. Goldman Sachs, Bank of Montreal and NWL Co. are expected to co-originate the non-recourse note, in a transaction scheduled to close on August 27, according to a <a href=\"https:\/\/www.kbra.com\/publications\/LChmFhZv\/kbra-assigns-preliminary-ratings-to-blox-2026-blox?format=web\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">KBRA pre-sale report<\/a>.<\/p>\n\n\n\n<p>The fixed-rate loan matures in September 2033 and includes an initial four-year anticipated repayment date. Additionally, the mortgage loan is interest-only through the first two years. Proceeds will retire an existing debt of $205 million.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/brookfield-buys-facebook-leased-building-for-365m\/\">Brookfield Premier purchased Block 16<\/a> in 2020 and <a href=\"https:\/\/www.commercialsearch.com\/news\/brookfield-properties-completes-264m-ground-sale-leaseback-deal\/\">acquired Block 24<\/a> a year later, for a combined total of $565 million.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-office-buildings-at-spring-district\">The office buildings at Spring District<\/h2>\n\n\n\n<p>Block 16 and Block 24 are two adjacent properties, part of the 36-acre Spring District, a master-planned neighborhood redevelopment situated on a former industrial site. Upon completion, the mixed-use project is slated to consist of more than 4 million square feet of office, retail, restaurant and residential space. <\/p>\n\n\n\n<p>The pair of LEED-certified office buildings came online in 2019 and 2020, respectively, and are fully leased to Meta Platforms Inc. The tech company invested $59.2 million in the buildout of the first property.<\/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-market-update\/\">Seattle Office Vacancy Decreases, Sales Activity Stays Weak<\/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>The assets rise 11 and 10 stories, totaling 542,680 square feet of office space. Shared amenities include bicycle storage, kitchen, dining hall and a parking garage with 1,178 spots. Meta\u2019s lease runs through 2033, with a single five-year renewal option.<\/p>\n\n\n\n<p>Located at 1288 123rd Ave. NE and 12355 NE District Way, respectively, Block 16 and Block 24 are 11 miles east of downtown Seattle. Major thoroughfares in the area include Interstate 405 and Washington State Route 520.<\/p>\n\n\n\n<p>Spring District is among the most significant <a href=\"https:\/\/www.commercialsearch.com\/news\/top-projects-that-will-reshape-seattle\/\">construction projects in Seattle<\/a>, with several buildings already completed. Construction on the $2.3 billion master-planned neighborhood began in 2013 through the joint venture between developers Wright Runstad &amp; Co. and Shorenstein Properties. While the residential buildings are already open, the ownership still plans to deliver 1.3 million square feet of office and retail space. Full buildout is anticipated for 2028.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Three banks will co-originate the refinancing. <\/p>\n","protected":false},"author":3619,"featured_media":1004807862,"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":[47879,52564,33435],"class_list":["post-1004807853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-latest","category-office","category-seattle","category-west","tag-bank-of-montreal","tag-brookfield","tag-goldman-sachs"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Brookfield to Land $210M for Seattle Office Buildings - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Brookfield Premier Real Estate Partners will secure a $210 million refinancing loan for Block 16 and Block 24, in Bellevue, Wash.\" \/>\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\/brookfield-premier-to-land-210m-for-seattle-office-buildings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brookfield to Land $210M for Seattle Office Buildings\" \/>\n<meta property=\"og:description\" content=\"Brookfield Premier Real Estate Partners will secure a $210 million refinancing loan for Block 16 and Block 24, in Bellevue, Wash.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/brookfield-premier-to-land-210m-for-seattle-office-buildings\/\" \/>\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=\"2026-08-06T13:37:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-08-06T15:42:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/image_81d8ed-edited.png\" \/>\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\/png\" \/>\n<meta name=\"author\" content=\"Maria Maruta\" \/>\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\\\/brookfield-premier-to-land-210m-for-seattle-office-buildings\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/brookfield-premier-to-land-210m-for-seattle-office-buildings\\\/\"},\"author\":{\"name\":\"Maria Maruta\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/34bf2de3f952f3db52e303344f1799df\"},\"headline\":\"Brookfield to Land $210M for Seattle Office Buildings\",\"datePublished\":\"2026-08-06T13:37:34+00:00\",\"dateModified\":\"2026-08-06T15:42:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/brookfield-premier-to-land-210m-for-seattle-office-buildings\\\/\"},\"wordCount\":354,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/brookfield-premier-to-land-210m-for-seattle-office-buildings\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2026\\\/08\\\/image_81d8ed-edited.png\",\"keywords\":[\"Bank of Montreal\",\"Brookfield\",\"Goldman Sachs\"],\"articleSection\":[\"Featured\",\"Finance\",\"News\",\"Office\",\"Seattle\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/brookfield-premier-to-land-210m-for-seattle-office-buildings\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/brookfield-premier-to-land-210m-for-seattle-office-buildings\\\/\",\"name\":\"Brookfield to Land $210M for Seattle Office Buildings - 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