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Transactions - DECEMBER 27, 2019

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KKR enters Seattle real estate market

by Andrea Zander

KKR has closed two real estate transactions totaling more than $1.2 billion located in the greater Seattle region, including the Summit located in downtown Bellevue, Wash, and the F5 Tower in downtown Seattle.

The Summit is a 915,000-square-foot class A office complex in the Bellevue central business district. The complex is 99 percent leased, and comprises two existing LEED Platinum office buildings and a third building currently under construction, expected to be completed in third quarter 2020. The properties are well located in the heart of the central business district, one block from the Bellevue Transit Center and the Bellevue Downtown Light Rail Station opening in 2023.

F5 Tower is a recently completed 43-story tower in the Seattle central business district, which includes the 100 percent leased 516,000-square-foot office condominium acquired by KKR alongside a separate 189-room luxury hotel. The property is architecturally significant to the Seattle skyline an

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