December 23, 2020
South Korean financial group Hana Alternative Asset Management, alongside Hana Financial Group, acquired a 95% stake in the Skanska-developed and built 2+U office and retail tower in Seattle for roughly $669 million. The divestment marks the largest single-property real estate transaction in the U.S. since the beginning of the COVID-19 pandemic.
Completed in late 2019, 2+U is a 38-story office tower and retail village named after its location at Second Avenue between Union and University streets in the heart of downtown Seattle. The 703,000-square-foot tower was recently honored with the 2020 NAIOP Washington Office Development of the Year Award.
Hana will take over operations of the 2+U development immediately in conjunction with Hines. Skanska will continue to be involved in the project and complete the ground plane and retail vision.
Eastdil Secured’s Jason Flynn represented Skanska.
Skanska also signed two retail leases within the Urban Village at 2+U, including One Workplace’s The Shop by Porter, and Valiant Barber & Supply.
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Tags: Acquisition, Office, Retail
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