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$12-Mil Financing Closes for Piers 55 & 56

SEATTLE-The owners of the recently renovated properties pay off a Key Bank construction loan with a $12-million, 15-year permanent financing from Safeco Life Insurance Company and Sterling Savings Bank.

By Gina Binole | Updated on September 28, 2001

SEATTLE- The owners of Piers 55 & 56 paid off a Key Bank construction loan this week with a $12-million, 15-year permanent financing from Safeco Life Insurance Company and Sterling Savings Bank.

Pier 56 is the home of the architecture firm Mithun Inc., as well as the Seattle landmark, Elliott’s Oyster House, a tenant of the property for more than 25 years. Neighboring Pier 55 is occupied by a variety of retail and office tenants; the largest, Argosy Cruises, is headquartered in the property.

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