September 20, 2019
Washington, D.C.-based Madison Marquette secured a $36 million bridge loan on Bay Vista, a 119,793-square-foot, mixed-use commercial condominium with 173 underground parking stalls in Seattle. The 36-month, floating-rate bridge loan was placed by JLL.
Bay Vista is located at 2815 2nd Ave., just north of the Seattle Central Business District, southwest of South Lake Union. The offering comprises 12 commercial condominium units within the first five floors of the building. The 18 floors above Bay Vista, which were not part of the offering, consist of privately-owned residential condominium units.
JLL’s Tom Wilson, Zack Goodwin and Kaden Eichmeier represented the borrower.
Wilson says, “Since Madison acquired the property in 2016, Bay Vista has been repositioned as a dominant, technology-oriented office destination for millennial users. We were pleased to assist them in refinancing their acquisition loan, which our team placed on their behalf three years ago.”
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