The Plaza Buildings BellevueCBRE Capital Markets’ Debt & Structured Finance team announced today that it has secured $111 million in senior financing and a $30 million mezzanine loan for The Plaza Buildings, two Class A office buildings totaling 489,647 square feet 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.

”Both the senior secured loan and the mezz loan provide the optionality and pricing to enhance target returns for the acquisition,” said Ms. Achtemeier.

The Plaza Buildings are LEED Silver-certified, twin office buildings located in the heart of Bellevue’s central business district. The project is 82% leased to a diversified tenant roster and benefits from a highly visible location with convenient local and regional access.

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