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SEATTLE-L.J. Melody & Co. has arranged a $25.3 million loan for the office building at 2401 Fourth Avenue and Battery Downtown. It marks the second such transaction this month.

JP Morgan Mortgage Capital provided the funding on behalf of Selig Real Estate Holdings 8. David Stinebaugh and Michal Makar in the Seattle office of L.J. Melody & Co. negotiated the transaction.

GlobeSt.com recently reported that L.J. Melody & Co. also arranged a permanent loan in the amount of $56.6 million for the 4th and Blanchard Building in Downtown Seattle. The 398,500-sf property was built in 1979 and includes major tenants such as First American Title, Kemper Insurance, The Washington State Bar, and Metropolitan Travel.

Bear Stearns provided the funding on behalf of Selig Real Estate Holdings Five through David Stinebaugh and Michal Makar in the Seattle office of L.J. Melody & Co. Selig Holdings Five is controlled by Martin Selig, a locally-based office developer whose portfolio totals approximately 2.5 million sf.

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