Cushman & Wakefield Arranges $250M Refinancing for 506-Unit Seattle MF
Cushman & Wakefield has arranged a $250 million refinancing for Museum House, a newly completed 506-unit multifamily community in Seattle, Washington.
The Cushman & Wakefield Equity, Debt & Structured Finance team of Dave Karson, Christopher Moyer, Alex Lapidus and Meredith Crawford represented the sponsor, a pension fund, in arranging the financing. Barings provided the loan.
“This is one of the most architecturally significant buildings in Seattle, and the First Hill neighborhood is developing nicely as a residential community just outside the downtown,” said Dave Karson, Executive Vice Chair at Cushman & Wakefield.
Completed in 2025, Museum House features 506 studio, one-, two- and three-bedroom residences, including 404 market-rate apartments and 102 income-restricted affordable homes. The property also includes 6,010 square feet of ground-floor retail. Located in Seattle’s First Hill neighborhood, Museum House is adjacent to the Frye Art Museum and offers convenient access to downtown Seattle, Capitol Hill, Seattle University, healthcare institutions and regional transit.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout