Kemper Development has nailed down a $238 million refinancing on Lincoln Square North, the TikTok-anchored office tower at 700 Bellevue Way NE in downtown Bellevue. The deal, announced this week, is one of the clearest signs that big institutional money still sees bright spots in the Eastside office scene.
Refinancing terms and lenders
Kemper secured the $238 million loan with institutional capital provided by Blackstone and New York Life, as reported by Commercial Property Executive. The new financing replaces an older mortgage and, according to the outlet, leaves the roughly 561,000-square-foot tower fully leased.
Why lenders stepped in
Market watchers say the refinancing signals that lenders will still back well located,…..