{"id":531363,"date":"2021-08-25T11:33:05","date_gmt":"2021-08-25T15:33:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cushman-wakefield-arranges-113m-construction-financing-for-multifamily-development\/"},"modified":"2021-08-25T11:33:05","modified_gmt":"2021-08-25T15:33:05","slug":"cushman-wakefield-arranges-113m-construction-financing-for-multifamily-development","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cushman-wakefield-arranges-113m-construction-financing-for-multifamily-development\/","title":{"rendered":"Cushman & Wakefield Arranges $113M Construction Financing for Multifamily Development"},"content":{"rendered":"

<\/p>\n

Cushman & Wakefield Arranges $113M Construction Financing for Multifamily Development<\/b><\/p>\n

SEATTLE–(BUSINESS WIRE<\/a>)–
\nCushman & Wakefield (NYSE: CWK) announced that the real estate services firm served as the exclusive advisor to Gemdale USA Corporation in the procurement of $113 million of construction financing for Skyglass Tower, a 29-story multifamily development located at 222 Dexter Avenue North in Seattle. The loan was provided by AIG.\n<\/p>\n

\nA Cushman & Wakefield Equity, Debt & Structured Finance team of Dave Karson, Chris Moyer and Keith Padien represented the borrower.\n<\/p>\n

\n\u201cSeattle is benefiting greatly from regional job creation and South Lake Union is still a prime location for new developments,\u201d said Karson. \u201cStrong developers like Gemdale are getting great attention from debt and equity investors interested in high quality projects.\u201d\n<\/p>\n

\nFeaturing 338 multifamily units, Skyglass Tower is a unique multifamily development in one of the most dynamic markets in the country. Featuring unobstructed water views, the project will include 2,260 square feet of ground floor retail and an expansive amenity package upon completion, which is slated for October 2023.\n<\/p>\n

\n\u201cGemdale chose a construction perm loan to lock in today\u2019s still historically low rates,\u201d added Moyer. \u201cThe facility included a significant post-completion earn out feature that will create additional flexibility for them.\u201d\n<\/p>\n

\nLocated in the South Lake Union submarket of Seattle, the project is surrounded by the city\u2019s premier commercial, recreational and cultural amenities. South Lake Union is in the heart of Seattle\u2019s tech and life sciences hub.\n<\/p>\n

\n\u201cCushman & Wakefield offers considerable skill and valued experience to our clients in the Puget Sound and we continue actively growing in the region,\u201d said Alison Beddard, Managing Principal, Washington for Cushman & Wakefield. \u201cWe are proud to be involved in developments like Skyglass Tower that deliver new high-quality product with lasting impact to our region.\u201d\n<\/p>\n

About Cushman & Wakefield <\/b><\/p>\n

\nCushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com<\/a> or follow @CushWake<\/a> on Twitter.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210825005603\/en\/<\/a><\/span><\/p>\n

Jayden Lapin-Tatman
\n<\/b>
Senior Communications Specialist
\n<\/span>
212-841-5052
\n<\/span>
Jayden.LapinTatman@cushwake.com<\/span><\/a><\/p>\n

KEYWORDS:<\/b> United States North America Washington<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Residential Building & Real Estate Commercial Building & Real Estate Finance Construction & Property Consulting<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
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Cushman & Wakefield Arranges $113M Construction Financing for Multifamily Development SEATTLE–(BUSINESS WIRE)– Cushman & Wakefield (NYSE: CWK) announced that the real estate services firm served as the exclusive advisor to Gemdale USA Corporation in the procurement of $113 million of construction financing for Skyglass Tower, a 29-story multifamily development located at 222 Dexter Avenue North in Seattle. The loan was provided by AIG. A Cushman & Wakefield Equity, Debt & Structured Finance team of Dave Karson, Chris Moyer and Keith Padien represented the borrower. \u201cSeattle is benefiting greatly from regional job creation and South Lake Union is still a prime location for new developments,\u201d said Karson. \u201cStrong developers like Gemdale are getting great attention from debt and equity investors interested … <\/p>\n

Continue reading “Cushman & Wakefield Arranges $113M Construction Financing for Multifamily Development”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-531363","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCushman & Wakefield Arranges $113M Construction Financing for Multifamily Development - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cushman-wakefield-arranges-113m-construction-financing-for-multifamily-development\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cushman & Wakefield Arranges $113M Construction Financing for Multifamily Development - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Cushman & Wakefield Arranges $113M Construction Financing for Multifamily Development SEATTLE–(BUSINESS WIRE)– Cushman & Wakefield (NYSE: CWK) announced that the real estate services firm served as the exclusive advisor to Gemdale USA Corporation in the procurement of $113 million of construction financing for Skyglass Tower, a 29-story multifamily development located at 222 Dexter Avenue North in Seattle. The loan was provided by AIG. A Cushman & Wakefield Equity, Debt & Structured Finance team of Dave Karson, Chris Moyer and Keith Padien represented the borrower. \u201cSeattle is benefiting greatly from regional job creation and South Lake Union is still a prime location for new developments,\u201d said Karson. \u201cStrong developers like Gemdale are getting great attention from debt and equity investors interested … Continue reading "Cushman & Wakefield Arranges $113M Construction Financing for Multifamily Development"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/cushman-wakefield-arranges-113m-construction-financing-for-multifamily-development\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-25T15:33:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210825005603r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-arranges-113m-construction-financing-for-multifamily-development\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-arranges-113m-construction-financing-for-multifamily-development\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Cushman & Wakefield Arranges $113M Construction Financing for Multifamily Development\",\"datePublished\":\"2021-08-25T15:33:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-arranges-113m-construction-financing-for-multifamily-development\\\/\"},\"wordCount\":439,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-arranges-113m-construction-financing-for-multifamily-development\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20210825005603r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-arranges-113m-construction-financing-for-multifamily-development\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-arranges-113m-construction-financing-for-multifamily-development\\\/\",\"name\":\"Cushman & Wakefield Arranges $113M Construction Financing for Multifamily Development - 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