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Newmark Arranges $13.8 Mil on Historic Office Property in Spokane, WA

1/31/17

Newmark has arranged $13.8 mil in financing on the historic US Bank building located at 422–428 West Riverside Ave, north of I-90 and southwest of Gonzaga University in downtown Spokane, WA. The building is anchored by US Bank, which acquired Old National Bank nearly thirty years ago.

Built in 1911, the building was the first skyscraper located in the inland Northwest. Upon completion, the 15-story tower became a symbol of the rising economy of the inland empire. It was designed by D. H. Burnham & Company.

Newmark’s Demetri Koston arranged the highly competitive, fixed-rate loan. The loan is based on a 30-year amortization and has no reserves, impounds or prepayment penalties.





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