The investment bank L.J. Melody & Company arranged the 10-year, fixed-rate construction take-out. The interest rate is not being released. The loan-to-value was 75%. Lois Townsend in Melody's Seattle office, along with John Petersen in the firm's Portland office, negotiated the transaction. "It's a mixed-use, high-end product, which is a little atypical of the market," Townsend tells GlobeSt.com.
Murray Scholls Town Center is composed of 77,000 sf of office and 126,000 sf of retail in 11 buildings. The property serves as the corporate headquarters for Metro One Communications, and includes retail tenants such as Chevron, 24-Hour Fitness, and Walgreens.
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