$40.3 Million Non-Performing Office Loan | Seattle, WA

$40.3 Million Non-Performing Office Loan  |  Seattle, WA_出售物業

特性

貸款狀態
非表現
未支付本金餘額
NT$1,310,285,990
現行利率
5%
建築物面積 (淨面積)
10,684 平方米
使用/出租率
6%
落成年份
1926
翻新年份
2021
土地面積
0.11 公頃
分区
DRC 85-170

資產詳情

Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis by the Seller to arrange the sale of $40.3 million non-performing loan (the “Loan”). The Loan is collateralized by the first-lien mortgage on a Class B office building located in Seattle, Washington (the “Property” or “Collateral”). They Loan went non-performing in August 2024 as a result of a maturity default.


The 10-story Property features approximately 115,000 square feet of net rentable area, including ground floor retail space that is primarily leased to a high-end outdoor clothing tenant. Highlighted by a renovated lobby, the Property received a $11 million renovation in 2021. With one office tenant that occupies approximately 2,000 square feet, the Property is a blank canvas with boundless potential.


The offering presents investors the opportunity to acquire the non-performing loan with a potential path to ownership on a high quality building at a significant discount to replacement cost and acquisition basis.

...

投資亮點

Clean Slate Property

With a single small office tenant and a high end retail tenant, the Property has unmatched optionality for future office use or redevelopment.


Path to Title

The maturity defaulted Loan provides investors with a unique opportunity to acquire non-performing loan with a path to title.


Desirable Basis

Investors have the potential to step into the ownership position on a recently renovated Property at a favorable basis.


Irreplaceable Location

The Property is located within steps of Seattle’s prime CBD retail corridor and Westlake Station, the primary Seattle transit hub connecting the CBD to surrounding areas including Capitol Hill, Sea-Tac Airport and the University of Washington.


Transaction Timeline

Indicative Bid Date: November 14, 2024

Best & Final Bid Date: December 3, 2024

Closing: Week of December 16, 2024

$40.3 Million Non-Performing Office Loan  |  Seattle, WA 4_出售物業
$40.3 Million Non-Performing Office Loan | Seattle, WA (0 項物業)

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最后更新
2024年10月21日