Gemdale USA Corporation has received $113 million of construction financing for Skyglass Tower, a 29-story multifamily development located at 222 Dexter Avenue North in Seattle. Cushman & Wakefield served as the exclusive adviser and procured the loan.
“Seattle is benefiting greatly from regional job creation, and South Lake Union is still a prime location for new developments,” said Dave Karson, Cushman & Wakefield equity, debt & structured finance team. “Strong developers like Gemdale are getting great attention from debt and equity investors interested in high-quality projects.”
Located in the South Lake Union submarket of Seattle, the project is surrounded by the city’s premier commercial, recreational and cultural amenities. South Lake Union is in the heart of Seattle’s tech and life sciences hub. Featuring 338 multifamily units, Skyglass Tower will include 2,260 square feet of ground-floor retail and an expansive amenity package upon compl
