JV receives $468m loan for Bellevue office tower development

A joint venture led by Schnitzer West and The Baupost Group has received a $468.7 million construction loan for The Artise, a 25-story trophy office tower development totaling approximately 609,000 square feet in downtown Bellevue, Wash.

Anticipated for delivery in the fourth quarter of 2023, The Artise will offer 25 stories of class A office space that is 100 percent pre-leased to a global ecommerce leader. The state-of-the-art project will also include 4,783 square feet of retail space and parking for 1,158 vehicles. Global architecture firm NBBJ has designed the building with the most recent HVAC/energy code compliancy, and the development is pursuing LEED Gold shell and core infrastructure.

The Artise is located at 788 106th Ave NE in the heart of downtown Bellevue on Seattle’s Eastside. Boasting a WalkScore® of 91, the property is just one block north of the “Grand Connection”, Bellevue’s main pedestrian corridor and the site of the future East Link Light