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Transactions - JULY 3, 2019

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Blackstone buys two Seattle towers for $1.2b

by Andrea Zander

EQ Office, the U.S. office portfolio operating company wholly owned by Blackstone, has acquired two office buildings in Seattle — U.S. Bank Centre and 999 Third Ave. — for $1.2 billion.

The acquisitions increase EQ's investment to 3.1 million rentable square feet of class A office space in Seattle.

EQ will manage both properties and reposition them to accommodate Seattle's evolving workforce by bringing energy, convenience and optionality that will rival the experiences of Seattle's best neighborhoods.

Both buildings are class A office assets that are currently occupied by tenants such as U.S. Bank, DocuSign and Wells Fargo. The buildings are well located in the CBD with excellent access to transit and strong view corridors.

"Seattle's high quality of life is economically approachable to the young talent that growing companies seek to attract. Combine the lower cost of living relative to other tech markets with access to top academic institutions such

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