$205 Million Financing Arranged by HFF for The Bravern Office Commons in Bellevue, Washington

NEW YORK--(BUSINESS WIRE)-- HFF (Holliday Fenoglio Fowler, L.P.) announced today that a transaction team including professionals from New York, San Francisco and Dallas offices successfully arranged $205 million in first mortgage financing for The Bravern Office Commons, a 749,694-square-foot, Class A office property located in downtown Bellevue, Washington.

HFF senior managing directors Michael Tepedino and Bruce Ganong along with executive managing director Jody Thornton worked on behalf of the borrower, Principal Global Investors, to secure a 10-year, fixed-rate loan through Pacific Life Insurance Company. Loan proceeds were used in connection with the acquisition of the office and garage components of the property.

The Bravern Office Commons is the primary component of The Bravern, a world-class mixed-use trophy asset comprised of two class A office towers that are 100 percent net leased to Microsoft; a seven-level parking garage; two luxury residential towers containing 455 units; and an upscale retail village containing 309,914 square feet anchored by Neiman Marcus.

“The Bravern project was completed in 2009 and was designed and constructed as one of the most preeminent mixed-use developments in the U.S. The sale of the Bravern Office Commons attracted interest from domestic and international investors,” said Ganong.

Principal Global Investors is a diversified asset management organization and member of the Principal Financial Group (NYSE: PFG).

Holliday Fenoglio Fowler, LP (“HFF”) and HFF Securities LP (“HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales, and commercial loan servicing. www.hfflp.com.

HFF
Michael Tepedino, 212-245-2425
Senior Managing Director
[email protected]
or
Bruce Ganong, 415-276-6300
Senior Managing Director
[email protected]
or
Kristen Murphy, 713-852-3500
Associate Director, Marketing
[email protected]

Source: HFF