SAN DIEGO, CA – August 22, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces a $17.8 million refinancing of Nexus Canyon Park Research Center, a 141,982-square-foot life science and flex/R&D building in the Seattle suburb of Bothell, Washington.
The HFF team worked on behalf of the borrower, San Diego-based Nexus Properties, Inc. to secure the non-recourse, three-year, floating-rate loan through one of its bank relationships.
The building is located within the Canyon Park Business Center just north of Interstate 405, approximately 15 miles northeast of downtown Seattle. Situated on 6.96 acres, the two-story property is 37.8 percent leased to Epoch Pharmaceuticals, Qilu Puget Sound Biotherapeutics Corp. and Acucela. Having recently undergone a repositioning of approximately half of the building area, the loan facility will provide adequate dollars to finish the lease-up and stabilization of the asset.
The HFF debt placement team representing the borrower included senior managing director Tim Wright, senior director Zack Holderman and senior associate Olga Walsh.
“The quality and commitment of Nexus Properties to the asset allowed us to identify a qualified lender to provide a strong non-recourse loan to complete the business plan,” said Holderman.
About Nexus Properties, Inc.
Founded in 1979, Nexus Properties, Inc. is a developer of high-quality corporate facilities, biotech laboratories and flex research and development properties throughout California, Washington and other markets. www.nexusprop.com
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.