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October 27, 2021
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Carillon Point Campus in Washington Recapitalized with $190 Mil Financing


Carillon Properties has recapitalized its Carillon Point mixed-use campus in Kirkland, WA with new financing of $190 mil. Fronting Lake Washington, the 26-acre property features a mix of Class A office, boutique hotel, and retail space and includes an active 200-slip marina.

Carillon Point is one of the premier commercial properties in the Pacific Northwest with 440k sf of Class A office space in five buildings with a serene, natural environment that includes the lakefront Woodmark Hotel in a sixth building. All six buildings feature retail businesses tied to an active marina.

Gantry’s Mike Taylor and Patrick Taylor secured the new financing for the property owners. The 15-year loan was placed with Principal Real Estate Investors. According to Taylor, the ownership group wanted to take advantage of the current low interest rate environment to repatriate some of their equity in the property and lock in today’s rates for the long term. Gantry also arranged the previous financing for the borrowers in 2009 with a different lender during the depths of the financial crisis.

“There are few workplace destinations that offer the hospitality and natural environment of Carillon Point, and we are dedicated to maintaining this environment for generations to come,” said Barbara Leland, Manager of Carillon Properties. “As the original developer and continuous operator of Carillon Point for three decades, we understand the critical role that financing plays in maintaining the property’s Class A standards and providing a significant return to our shareholders.”

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