{"id":24327,"date":"2019-08-26T15:30:09","date_gmt":"2019-08-26T13:30:09","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=24327"},"modified":"2026-04-07T12:46:02","modified_gmt":"2026-04-07T09:46:02","slug":"amazon-phase-vii-refi","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/amazon-phase-vii-refi\/","title":{"rendered":"Amazon-Occupied Office in South Lake Union Fetches $220M CMBS Refi"},"content":{"rendered":"

French investment bank Natixis secured a $220 million CMBS refinance loan for an Amazon-occupied office space in Seattle<\/a>, owned by RFR Holding and TriStar Capital. Richard Horowitz, principal of Cooper-Horowitz, and Michael Magner, head of CRE originations at Natixis, represented the lender during the negotiations. The five-year debt will be used to pay off a previous $158.6 million loan from MetLife on the Amazon Phase VII building, a 318,689-square-foot, Class A office property located in the South Lake Union<\/a> market.<\/p>\n

The joint venture acquired the 12-story building on 400 Ninth Avenue North in 2016 for $244 million, or $766 per square foot, from Microsoft co-founder Paul Allen\u2019s company, Vulcan Real Estate. A year later, TriStar and RFR nabbed Centre 425, a 16-story Bellevue office space<\/a> fully leased to Amazon, for $313 million<\/a>, or $877 per rentable square foot.<\/p>\n

\"Amazon

Amazon Phase VII building, 400 Ninth Avenue North, Seattle<\/p><\/div>\n

Vulcan Real Estate \u2013 which had previously sold an 11-building portfolio to Amazon in a whopping $1.16 billion deal<\/a> in 2012 \u2013 built Amazon Phase VII in 2015. It was designed by architecture and planning firm NBBJ and developed by Turner Construction. The property includes \u201cNebulous,\u201d a public art installation by local artist Dan Corson, consisting of suspended blue and white spheres with suction cup-like features. The LEED-Gold certified building has a four-level subterranean garage and 5,723 square feet of retail space currently leased to Sam\u2019s Tavern, a popular gourmet burger joint in Seattle.<\/p>\n

Other areas of interest for Tristar investments include high-rise condos in Manhattan and high-end retail in Miami Beach and Las Vegas. RFR targets various urban markets in the U.S. and Germany.<\/p>\n","protected":false},"excerpt":{"rendered":"

French investment bank Natixis secured a $220 million CMBS refinance loan for an Amazon-occupied office space in Seattle, owned by RFR Holding and TriStar Capital. Richard Horowitz, principal of Cooper-Horowitz, and Michael Magner, head of CRE originations at Natixis, represented the lender during the negotiations. The five-year debt will be used to pay off a…<\/p>\n","protected":false},"author":56,"featured_media":23156,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,38,4014,39],"tags":[],"class_list":["post-24327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-deals","category-featured","category-office","wpautop"],"acf":[],"yoast_head":"\nAmazon-Occupied Office in South Lake Union Fetches $220M CMBS Refi - CommercialCafe<\/title>\n<meta name=\"description\" content=\"An Amazon-leased office building in Seattle's South Lake Union neighborhood has secured a $220 million CMBS refinancing, highlighting demand for top-tier tech tenants.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialcafe.com\/blog\/amazon-phase-vii-refi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amazon-Occupied Office in South Lake Union Fetches $220M CMBS Refi\" \/>\n<meta property=\"og:description\" content=\"An Amazon-leased office building in Seattle's South Lake Union neighborhood has secured a $220 million CMBS refinancing, highlighting demand for top-tier tech tenants.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialcafe.com\/blog\/amazon-phase-vii-refi\/\" \/>\n<meta property=\"og:site_name\" content=\"CommercialCafe\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-26T13:30:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-07T09:46:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/shutterstock_248838679_Featured-image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Sabau\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Diana Sabau\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/amazon-phase-vii-refi\/\",\"url\":\"https:\/\/www.commercialcafe.com\/blog\/amazon-phase-vii-refi\/\",\"name\":\"Amazon-Occupied Office in South Lake Union Fetches $220M CMBS Refi - 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