BGO and URG have successfully completed the refinancing of Plaza 600, a 20-story office building situated in downtown Seattle. This new financing arrangement will support efforts to revitalize the property and attract top-quality tenants. The leasing of the building is being handled by JLL’s Cleita Harvey, Tim Jones, and Charlotte Evans.
As part of this refinancing deal, BGO and URG were able to secure over $10 million in committed capital which will be used for further repositioning efforts at the property. According to Rob Naso, Managing Partner and Head of U.S. Asset Management at BGO: “With reduced debt burden, extended loan terms, and full control over our leasing strategies and capital improvements budgeting process; we are now well-positioned to aggressively pursue opportunities that will entice tenants to this prime location in downtown Seattle.”
Plaza 600 boasts a central location between two prominent areas – Retail Core & South Lake Union neighborhood – providing easy access via I-5 as well as mass transit options. The property offers a total area spanning across 209256 square feet for office space along with an additional retail space measuring up-to-5063 square feet.
