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Schnitzer West And The Baupost Group Secures $525M Refinance From Goldman Sachs And Deutsche Bank
FINANCED
$525,000,000
Washington
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Financed
FINANCED
Schnitzer West And The Baupost Group Secures $525M Refinance From Goldman Sachs And Deutsche Bank
788 106th Avenue Northeast
See Similar DealsOffice
Financed
Summary
WASHINGTON
Asset Type:Office
Transaction Type:Loan
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
LENDER
LENDER
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$525,000,000.00
Monthly NOI$3,500,000.00
Monthly Debt Service$3,318,357.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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