Selig Office Portfolio Gets $135M Loan
The portfolio comprises nearly 403,000 square feet in three Seattle properties: 333 Elliott West, Fourth and Battery located at 2401 4th Ave., and Third and Battery located at 2400 3rd Ave.
SEATTLE—A $135 million 10-year first-mortgage loan has been obtained by Martin Selig Real Estate to refinance the Selig office portfolio, which comprises nearly 403,000 square feet in Seattle. The new loan secured by 3650 REIT will provide Martin Selig Real Estate with additional capital to continue advancing development initiatives.
The portfolio features three properties: 333 Elliott West, Fourth and Battery located at 2401 4th Ave., and Third and Battery located at 2400 3rd Ave. The latter two buildings are well positioned in Seattle’s most densely populated neighborhood, Belltown, while 333 Elliott West resides just north on a waterfront site.
3650 REIT is a balance-sheet lender focused on creating long-term relationships by originating, servicing and asset managing long- and short-term fixed-rate commercial real estate loans through maturity.