Daily market intelligence on mortgages, equity raising, investment sales, and CMBS.

Thursday, 13 February 2020

Equity Commonwealth to Sell Seattle-Area Office Building for $401.5Mln

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Commercial Real Estate Direct Staff Report

Equity Commonwealth has agreed to sell the 435,406-square-foot Tower 333 office building in the Seattle suburb of Bellevue, Wash., for $401.5 million, or $922/sf.

The deal is expected to close by March 12. The buyer was not disclosed.

The 20-story property, at 333 108th Ave. NE, is fully leased to Amazon.com Inc., which will move in this year. Amazon's lease is for 16 years. Expedia Group previously had occupied the building.

Last year, Amazon bought the 256,830-sf Bellevue Corporate Plaza, which is two blocks from Tower 333, from Equity Commonwealth for $194.9...





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“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

  • Breaking mortgage, CMBS, and REIT news

  • Quarterly league tables with rankings of B-piece buyers, book runners, and lenders

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Additional Info

  • Syndicate to Realpoint: No
  • Cities: Seattle
  • States: Washington
  • Sector: Office
  • Subject: Property Acquisitions (ACQ)
  • Valuation: More than $150 million
  • Private: Yes
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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

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