Newmark announced the Company has arranged the $525 million refinancing of The Artise, a recently delivered, Class A+ 25-story trophy office tower in downtown Bellevue, WA, that is 99% leased. The transaction reflects Newmark’s capital markets expertise and its ability to deliver large‑scale financing solutions for institutional owners in top‑tier office markets.
Newmark Co-President of Global Debt & Structured Finance Jonathan Firestone and Vice Chairman Blake Thompson, in collaboration with Co-Head, U.S. Capital Markets Kevin Shannon, led the assignment, arranging the financing from Goldman Sachs and Deutsche Bank on behalf of Schnitzer West and The Baupost Group. The team partnered closely with the clients to structure a competitive refinancing that aligns with the asset’s long‑term investment strategy.
“Securing this refinancing for The Artise underscores lender confidence in Bellevue’s premier office market and the long-term durability of this tenancy,” said Firestone. “Goldman Sachs and Deutsche Bank delivered a competitive structure that supports our clients’ business plan and recognizes the exceptional quality and an investment-grade tenant.”
“The Artise reinforces the strength of Bellevue as a critical business hub,” said Jordan Suther, Senior Director, Schnitzer West. “The refinancing reflects the continued value of well-located, best-in-class office assets with strong tenancy. We’re pleased to see ongoing confidence from the capital markets.”
Completed in 2024, at the intersection of NE 8th Street and 106th Avenue, The Artise is a state-of-the-art, LEED Gold certified office tower featuring a prominent public plaza with a water feature, 927 below-grade parking stalls, self-tinting high-performance glazing, a 3,000-square-foot outdoor terrace and robust bike amenities including 196 vertical bike racks, 12 e-bike charging stations and dedicated locker rooms.
