Karson, Henandez and Moyer of Cushman & Wakefield represent Kemper Development in $220 million refinancing

October 18, 2015 - Financial Digest
Bellevue, WA Cushman & Wakefield has represented Kemper Development Company in the $220 million refinancing of the Eddie Bauer Building . The financing was provided by TIAA-CREF. Developed by Kemper Development Company in 2007, the 28-story, 538,705 s/f class A office building is centrally located in the middle of the 4 million s/f Bellevue Collection on the corner of NE 8th and Bellevue Way NE.  The building has been 100% leased since opening to Eddie Bauer and Microsoft Corporation. A Cushman & Wakefield Equity, Debt & Structured Finance team of Dave Karson, Alex Hernandez and Chris Moyer represented Kemper Development Company in the financing. "As Kemper Development Company continues to develop the Lincoln Square Expansion next door, securing attractive, long-term financing for this trophy office tower is another step toward positioning the company for its continued success." said Karson, a New York-based executive managing director with Cushman & Wakefield. "The Seattle Bellevue market has become a top destination ?for both domestic and international lenders and investors as they find themselves priced out of cities like New York and San Francisco,” said Karson. “Capital is recognizing that some of America’s other top markets have some very compelling investment elements. There is always a market for high-quality property in the best location in a city." Developed in stages by the Kemper Development Company, the Bellevue Collection offers a unique collection of integrated retail, office, hotel and residential properties and offers over 250 world-class retail brands, dozens of fine restaurants, over a million square feet of Class A office and over 1,000 hotel rooms. In September, Cushman & Wakefield had also represented Kemper Development Company in arranging a $526 million construction-to-permanent loan for the 1.5 millions/f expansion of Bellevue Square known as Lincoln Square Expansion. Financing had been provided by an affiliate of CPPIB Credit Investments Inc., a wholly owned subsidiary of Canada Pension Plan Investment Board.
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