Grandbridge to Act as Servicer for $210M Refinancing of Two Seattle Office Towers

Grandbridge Real Estate Capital, a subsidiary of Truist, has been named master servicer on its first commercial mortgage-backed securities transaction, marking a significant milestone as the firm expands its servicing platform.

Grandbridge will serve as master servicer for a $210 million refinancing of two office towers outside Seattle owned by Brookfield Asset Management. Goldman Sachs is providing an interest-only, fixed-rate mortgage loan with a four-year anticipated repayment date and a seven-year final maturity.

Block 16 and 24 total 543,000 square feet and are within the transit-oriented Spring District, a 36-acre walkable neighborhood in Bellevue, Washington, which serves as a technology hub for the Pacific Northwest. Block 16 is an 11-story tower, while Block 24 is a 10-story building. Both are 100% leased, and tech giant Meta has occupied the Spring District since 2018.

Brookfield Asset Management is a SASB issuer with approximately $1.1 trillion in assets under management.

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