SEATTLE-Ivanhoé Cambridge continues to grow its US holdings with the acquisition of a 100% interest in the Wells Fargo Center, a 47-story, class A, office tower. The company's investment of approximately $390 million brings the firm's share of leasable class A space in Seattle's financial district to nearly 8%.
“This acquisition, an excellent investment opportunity brought to our attention through our partner, Callahan Capital Properties, contributes to our strategy aimed at building a national platform of assets comprised of superior-quality office buildings that are well located in the U.S.,” said Daniel Fournier, chairman and CEO of Ivanhoé Cambridge. “We are especially proud to have been able to execute this transaction efficiently within a short timeframe.”
Located at 999 Third Avenue, Wells Fargo Center is among downtown Seattle's showcase real estate assets and one of the city's tallest skyscrapers. It features excellent energy-management and environmental systems, with LEED Gold certification and a very high Energy Star rating. It also provides exceptional views over Elliott Bay, the mountains and the city.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
