CBRE Capital Markets’ Debt & Structured Finance team secured $111 million in senior financing and a $30 million mezzanine loan for The Plaza Buildings, two Class A office buildings totaling 489,647 s/f in Bellevue, Washington.
CBRE worked on behalf of KBS Capital Advisors to secure the senior floating rate loan from Wells Fargo and the mezzanine loan from Principal Capital Management.
The loans were arranged to provide acquisition financing for the project and are both three-year initial term loans with two, one-year extension options.
CBRE’s Val Achtemeier arranged both loans on behalf of KBS.
