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3/27/26
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Kemper Development Company has obtained a $238 mil refi loan on Lincoln Square North, a 561.5k sf, 25-story office tower within The Bellevue Collection in Bellevue, WA.
Developed by Kemper in 2007, Lincoln Square North is 100% leased. The property features premier amenities, on-site security and management, smart parking and direct connectivity to over 1.8 msf of retail, dining and entertainment via skybridges and tunnels.
Newmark Co-President of Global Debt & Structured Finance Jonathan Firestone, Vice Chairman Blake Thompson and Associate Director Jack Condon secured the funding. The refinancing was provided by Blackstone and New York Life.
The property continues to outperform the broader office market, driving strong tenant demand and rent growth. From November 2023 through March 2025, over 461k sf of new office leases were signed or commenced, representing over 25% of the total office leasing activity in the Bellevue CBD during the same period, according to Newmark Research.
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