$7.95 million refinancing for suburban Seattle office/flex property arranged by HFF
SAN DIEGO, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a $7.95 million refinancing for Snoqualmie Ridge, a two-story, 76,661-square-foot office/flex property in Snoqualmie, a suburb of Seattle, Washington.
Working on behalf of the borrower, Nexus Snoqualmie, LLC, HFF placed the 10-year, fixed-rate loan with a national lender. Loan proceeds are replacing a maturing CMBS loan from a recapitalization in 2005.
Snoqualmie Ridge is located at 8226 Bracken Place SE within the Snoqualmie Ridge Business Park in Seattle’s I-90 corridor. The property occupies 4.11 acres in Seattle’s Eastside area and has a central downtown location in Snoqualmie. Completed in 2001, Snoqualmie Ridge is 94.8 percent leased to tenants such as Zetec, Inc., which has its headquarters at the property, as well as Sherwin-Williams and Eastside Psychological Associates.
HFF’s debt placement team representing the borrower was led by senior managing director Tim Wright and director Zack Holderman.
About HFF HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.