3650 REIT has originated a $135 million 10-year loan to refinance Martin Selig Real Estate’s three asset office portfolio in Seattle.

All three properties are situated in Seattle’s Belltown neighborhood. The portfolio includes the 202,556 square-foot Fourth & Battery, the 133,467-square-foot 333 Elliott West and the 68,429-square-foot Third & Battery.

Situated at 2401 Fourth Ave., Fourth & Battery was developed in 1978 and received cosmetic renovations in 2006. The 12-story building is leased to several tenants, such as Aptevo Therapeutics, LifeSpan Biosciences and New Engen. Third & Battery is located adjacently, at 2400 Third Ave. The three-story building completed in 2016 is leased to Antioch University, Sound Community Bank and Zymeworks.

Additively, the third asset is located at 333 Elliott Ave. West, less than a mile from the other two. The property was completed in 2008 on a 1.2-acre site and is occupied by Outreach.

Source:CP Executive

Fulya Altunyay/[email protected]