Cushman & Wakefield acted as the exclusive advisor for affiliates of Avenue 55 and Columbia Pacific Advisors in securing $40 million in financing for Track6, a state-of-the-art manufacturing and research & development facility located in Seattle’s SoDo submarket.
The borrower was represented by Cushman & Wakefield’s Dave Karson, Chris Moyer, Paul Roeter, and Jason Blankfein in the refinancing deal. The funds will be used to pay off the existing loan, cover remaining lease-up expenses, and stabilize the property. Thorofare Capital provided the loan.
Situated on a 210,776-square-foot lot with four stories of space available for use,the newly constructed building offers convenient access to Port of Seattle as well as close proximity to both Seattle-Tacoma International Airport and King County International Airport. It also boasts short commute times to major population centers throughout its metropolitan statistical area (MSA).
Karson commented on working with Thorofare Capital: “The lending market is strong for unique industrial properties like Track6,and we are thrilled to have partnered with Thorofare Capital on this successful transaction.”
This news was originally reported by Connect CRE.
