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Venture buys Seattle office building for $270m
Transactions - JANUARY 2, 2020

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Venture buys Seattle office building for $270m

by Andrea Zander

A venture of Tristar Capital and RFR Holding Corp. has bought the 317,804-square-foot Amazon at Apollo creative office building in Seattle for $270.1 million.

The seller was Mirae Asset Global Investments.

The asset was built in 2015 as a build-to-suit for Amazon, which leases the project on a long-term basis.

“This class A property produced tremendous interest globally and is yet another example of foreign capital buying trophy Seattle assets,” said Kevin Shannon, Newmark Knight Frank

co-head of U.S. capital markets, which represented the seller. “Mirae Asset Global Investments received strong cash flow during its holding period for this asset and garnered an attractive gain with this sale, while avoiding the new increased excise sales tax which goes into effect in January.”

The LEED Gold certified property is situated on .98 acres and features open creative build-outs, on-site public bike racks, shower/locker facilities, four levels of su

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