Schnitzer West And The Baupost Group Secures $525M Refinance From Goldman Sachs And Deutsche Bank
788 106th Avenue Northeast
$525,000,000
Building Size
—
Asset Type
Office
Closing
Apr 1, 2026
AI
The Artise is a 25-story, Class A+ office tower located at 788 106th Avenue Northeast in Bellevue, WA. The property comprises a total loan amount of $525,000,000 and is currently 99% leased.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $525,000,000
- Lender: Goldman Sachs & Deutsche Bank
- Landlord: Schnitzer West & The Baupost Group
- Brokers: Jonathan Firestone, Blake Thompson & Kevin Shannon - Newmark
- Loan Type: Refinance
The refinancing was arranged by Newmark, providing capital to Schnitzer West and The Baupost Group for the acquisition of the property. The transaction showcases the collaboration between prominent financial entities and real estate firms in the market.
Players
Bellevue Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93