Natixis Provides $25.5 Million Senior Financing on Seattle Office Building
Natixis Real Estate Capital LLC provided $25,500,000 in senior financing for Madison Marquette’s acquisition of a 119,793 square foot office building in downtown Seattle. Loan proceeds were used to fund the acquisition of the property, and will be available to fund leasing costs and capital expenditures.
Located at 2815 2nd Avenue in the heart of Seattle’s Belltown neighborhood, the property comprises the commercial condominium of the mixed-use Bay Vista development, which also includes Bay Vista Tower, a luxury high-rise residential development. Bay Vista is positioned as a dominant, technology-oriented office destination for millennial users, featuring high-quality creative office space with proximity to transit and vibrant urban living. Seattle’s Belltown submarket is just north of the central business district, and enjoys strong demand from a broad range of commercial office users including technology and e-commerce users.
Founded in 1992, Madison Marquette is a private, fully integrated real estate investment management and operating company. They currently own and manage over 23 million square feet of office, retail, and mixed-use developments.