The funding was arranged by L.J. Melody & Company, a national real estate investment banking firm, and Washington Mutual provided the funding on behalf of Triad Pier 70, LLC. Mark Capeloto, of L.J. Melody's Seattle office secured the money for the transaction.
Pier 70 is a three-story heavy timber structure that was built in 1902 and completely renovated in 1998. The Pier has a rentable area of more than 105,000 sf. Tenants include the Waterfront Restaurant, Pinnacle Realty Management, one of the country's largest multifamily property managers, and Graham & Dunn, one of Seattle's oldest law firms. The space is the former home of MTV's "Real World" and Go2Net Inc. Leasing at the Pier stands at 100%.
L.J. Melody & Company, a CB Richard Ellis company, is one of the largest real estate investment banking firms in the United States. In the past two years the firm arranged $15 billion in commercial real estate transactions nationwide. The firm is headquartered in Houston and operates offices in 33 major metropolitan markets.
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