Thursday, September 06, 2007

$684 Million Construction Loan Arranged for The Bravern in Bellevue

With the office towers at the under construction The Bravern in downtown Bellevue 100% preleased to Microsoft , it probably wasn't too difficult for them to get additional financing. What was a surprise to me is that the condos in the project aren't actually scheduled to be online until 2010. I believe the the local market for residential (including condos) will be very soft by then and there may be an opportunity to pick up one of these units for a relative song ...

Here's the official press release:

The New York office of HFF (Holliday Fenoglio Fowler, L.P.) announced today it has arranged a $684 million construction loan for a 1,600,000-square-foot upscale retail, office and condominium project under construction in downtown Bellevue, Washington.

HFF senior managing director Mike Tepedino and director Steven Klein worked on behalf of Schnitzer West & Investcorp International, Inc. to secure a construction loan through HSH Nordbank.

The Bravern development will include two office buildings totaling 750,000 square feet, an upscale retail collection of approximately 305,000 square feet and two luxury condominium towers totaling 456 units. A below-grade parking garage will offer parking for 3,100 cars with reserved spaces for residents of the condominium towers. Located at 110th Avenue Northeast, The Bravern has a downtown Bellevue location immediately adjacent to Interstate 405 across Lake Washington from Seattle.

Due for completion in October 2008 and May 2009, the Class A office towers will have 12 and 22 stories and are 100% pre-leased to Microsoft. The retail component is projected to open in September 2009 and includes a 125,000-square-foot Neiman Marcus flagship store, which will be the first Pacific Northwest store for the company. The 29-story condominium towers will offer one-bedroom, two-bedroom, sky loft and penthouse units and are projected to be delivered by the first quarter of 2010.

Labels: , ,

2 Comments:

At 5:53 PM, Blogger Kely said...

These articles are fantastic; the information you show us is interesting for everybody and is really good written. It’s just great!! Do you want to know something more? Read it...:Great investment opportunity in jaco bay, jaco beach, jaco beach costa rica, Visit us for more info at: http://www.jaco-bay.com/

 
At 10:11 AM, Blogger rental condos said...

Hello I want to congratulate to them by its site of the Web of the exelente looks like entertained and very good very to me it elaborated. I invite them to that they explore a little on my site of the Web. Costa Rica Real State
In our real estate listing, we offer a great variety of land properties of all kind all over Costa Rica, from nice city houses, including condos, lots, country houses and farms, to splendorous luxury properties with extraordinary ocean views or located in front of the most beautiful beaches of Costa Rica.
But we don't just find those properties for you. We also give you all the legal advising regarding Costa Rica land properties regulations; our knowledge and expertise allow us to offer you a confident and dependable advice. Likely, we will advise you on how to make the best possible real estate investment anywhere in Costa Rica.

Our real estate listing includes great opportunities on Costa Rica Central Valley's provinces such as San Jose, our Capital, with remarkable cities as Escazu at the west, or Curridabat at the east, experiencing a great development on both commercial and residential properties, making their real estate pricing highly attractive to investors; on other hand, Alajuela city gathers places with a very special warm weather such as Grecia, La Garita and Atenas, or beautiful farms for agricultural, cattle or nature preservation purposes as those located on San Carlos or Sarapiqui. We also offer land properties in Guanacaste, which is the province, along with Puntarenas, with the most beautiful tropical beaches on the Pacific Coast such as Tamarindo, Playa Grande, El Coco, Playa Hermosa, Nosara, Samara, Herradura, Jaco, Manuel Antonio, Dominical and Golfito, where the real estate business occupies the first place as the local economic activity.
We can’t leave outside our real estate listing, land properties of great beauty on the Costa Rica Carribean Coast like Tortuguero, Limon, Cahuita, Puerto Viejo and Gandoca Manzanillo.

We invite you to take a tour on our website, and if should more information is required.
The best investment opportunity in Costa Rica: costa rica real estate, real estate beach,costa rica condos. Visit us for more information at: http://www.costa-ricarealestate.com

 

Post a Comment

<< Home