Updated Dec 4, 2024
Jim Brooks Of BH Properties Acquires Seattle Retail Asset From Madison Marquette
600 Pine Street
$88,250,000
Building Size
—
Asset Type
Retail
Closing
May 23, 2024
About this deal
AI
The $88.25 million sale on 05/23/2024 involved a Retail property located at 600 Pine Street in Seattle, WA. The property was acquired by Jim Brooks of BH Properties from the seller Madison Marquette.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $88,250,000
- Address: 600 Pine Street
- Market: Seattle, WA
- Buyer: Jim Brooks - BH Properties
- Seller: Madison Marquette
BH Properties purchased Downtown Seattle's struggling Pacific Place mall and parking garage from Madison Marquette. The sale marked a significant decline from the previous owner's acquisitions in 2014 and 2016, where they paid $358 million for the property.
On the Map
$88,250,000
Retail
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Players
Seattle Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93