Skanska divests interest in Seattle office for $669m

Skanska has divested a 95 percent interest in the 2+U office property in Seattle for approximately $669 million to South Korean financial group Hana Alternative Asset Management, alongside Hana Financial Group.

The transaction will be recorded by Skanska USA Commercial Development in fourth quarter 2020. Hana will immediately begin operations of the 2+U development.

2+U comprises a 703,000-square-foot office tower in Seattle's CBD and a 24,000-square-foot open-air community hub on the ground floor, known as the Urban Village, with local retail and cultural space. Office tenants include Qualtrics, Indeed.com, Dropbox Inc. and Spaces.

Construction of 2+U began in second quarter 2017, and both exterior and interior elements were completed in third quarter 2019. Since then, continual tenant adaptions have been made and will continue as tenants move in.