August 14, 2019
A subsidiary of Seattle-based Clise Properties secured a $160-million permanent loan for McKenzie Seattle, a distinctive elliptical 40-story, luxury 450-unit residential tower in Seattle. The fixed rate 10-year loan was arranged as the for-rent property was approaching stabilized occupancy. Northwestern Mutual Life Insurance Company provided the financing.
Located at 2202 8th Ave., the project was completed in August 2018 and includes a mix of studios, one, two- and three-bedroom penthouse units and 379 parking spaces. Units have 360-degree city views and five-star amenities, which include a 39th floor fitness center, 40th floor common area with deck, private spa retreat and 24/7 tenant concierge.
Wild Ginger, a well-known and highly-regarded restaurant, occupies the ground floor retail space. The property is also located within two blocks of Amazon’s corporate headquarters and “Spheres” landmark.
CBRE’s David Stinebaugh and Mark Capeloto represented the owner.
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