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May 11, 2018  

Wells to Lend on New Seattle Offices

Wells Fargo has won the mandate to provide a roughly $265 million mortgage on a recently completed office tower in downtown Seattle.The 754,000-square-foot building, at 505 Madison Street, opened last fall and is in its initial lease-up phase. The borrower, a partnership between Barings Real Estate of Charlotte and local developer Schnitzer West, will use some of the proceeds to retire construction debt.The specific details of Wells’ loan...

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