Newmark Arranges $435 Million Refinancing for Iconic Starbucks Center Headquarters in Seattle's SoDo District
Newmark (NASDAQ:NMRK) has successfully arranged a $435 million refinancing for the iconic Starbucks Center headquarters in Seattle's SoDo District. The financing was provided by Deutsche Bank on behalf of Nitze-Stagen & Co. and Daniels AG真人官方 Estate.
The landmark office property, spanning 1.48 million square feet, has been Starbucks' headquarters since 1993 and has undergone over 60 expansions. Notably, Starbucks has recently extended its commitment to the property with a new 20-year lease through 2038 and has invested over $300 million of its own capital in the building.
Newmark (NASDAQ:NMRK) ha concluso con successo un rifinanziamento da 435 milioni di dollari per l'iconico quartier generale Starbucks Center nel distretto SoDo di Seattle. Il finanziamento 猫 stato erogato da Deutsche Bank per conto di Nitze-Stagen & Co. e Daniels AG真人官方 Estate.
La storica propriet脿 ad uso ufficio, che si estende su 1,48 milioni di piedi quadrati, ospita la sede di Starbucks dal 1993 ed 猫 stata ampliata oltre 60 volte. Di recente, Starbucks ha rinnovato il proprio impegno con un nuovo contratto di locazione di 20 anni fino al 2038 e ha investito oltre 300 milioni di dollari di capitale proprio nell鈥檈dificio.
Newmark (NASDAQ:NMRK) ha logrado concretar un refinanciamiento de 435 millones de d贸lares para la emblem谩tica sede Starbucks Center en el distrito SoDo de Seattle. El financiamiento fue proporcionado por Deutsche Bank en nombre de Nitze-Stagen & Co. y Daniels AG真人官方 Estate.
La propiedad emblem谩tica de oficinas, que abarca 1.48 millones de pies cuadrados, ha sido la sede de Starbucks desde 1993 y ha experimentado m谩s de 60 ampliaciones. Recientemente, Starbucks ha renovado su compromiso con la propiedad mediante un nuevo contrato de arrendamiento de 20 a帽os hasta 2038 e invirti贸 m谩s de 300 millones de d贸lares de su propio capital en el edificio.
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Newmark (NASDAQ:NMRK) a r茅ussi 脿 organiser un refinancement de 435 millions de dollars pour le si猫ge embl茅matique Starbucks Center dans le quartier SoDo de Seattle. Le financement a 茅t茅 accord茅 par Deutsche Bank au nom de Nitze-Stagen & Co. et Daniels AG真人官方 Estate.
Ce b芒timent de bureaux embl茅matique, d'une superficie de 1,48 million de pieds carr茅s, est le si猫ge de Starbucks depuis 1993 et a connu plus de 60 extensions. R茅cemment, Starbucks a renouvel茅 son engagement envers la propri茅t茅 avec un nouveau bail de 20 ans jusqu'en 2038 et a investi plus de 300 millions de dollars de ses propres fonds dans le b芒timent.
Newmark (NASDAQ:NMRK) hat erfolgreich eine 435 Millionen US-Dollar Refinanzierung f眉r das ikonische Starbucks Center Hauptquartier im SoDo District von Seattle arrangiert. Die Finanzierung wurde von der Deutschen Bank im Auftrag von Nitze-Stagen & Co. und Daniels AG真人官方 Estate bereitgestellt.
Das markante B眉rogeb盲ude mit einer Fl盲che von 1,48 Millionen Quadratfu脽 dient seit 1993 als Starbucks-Hauptsitz und wurde 眉ber 60 Mal erweitert. K眉rzlich hat Starbucks sein Engagement mit einem neuen 20-Jahres-Mietvertrag bis 2038 verl盲ngert und 眉ber 300 Millionen US-Dollar Eigenkapital in das Geb盲ude investiert.
- Secured substantial $435 million refinancing for a landmark property
- Starbucks signed new 20-year lease extension through 2038, demonstrating long-term commitment
- Property has strategic tenant investment of over $300 million
- Transaction involves major tenant Starbucks in prime Seattle market
- None.
Insights
Newmark's $435M refinancing of Starbucks HQ demonstrates strong commercial real estate capabilities and signals valuable revenue generation.
Newmark's arrangement of a
The transaction carries particular weight given the property's high-profile nature as Starbucks' global headquarters spanning nearly 1.5 million square feet. The refinancing was secured by senior members of Newmark's Global Debt & Structured Finance team, including Co-Presidents Jonathan Firestone and Jordan Roeschlaub, indicating the strategic importance of this deal.
What makes this refinancing especially valuable is Starbucks' recent 20-year lease extension through 2038, which significantly enhances the property's stability and long-term income potential. This extension, coupled with Starbucks'
From a business perspective, this transaction likely generates substantial fee income for Newmark while reinforcing their position as a key player in arranging complex financing solutions for trophy assets. The deal strengthens Newmark's reputation in the competitive commercial real estate services sector, potentially attracting additional high-value clients seeking similar financing arrangements for landmark properties.
"The closing of this refinancing positions Starbucks Center for continued excellence as one of the city's premier office assets," said Firestone. "This transaction ensures the continued vitality of this globally recognized property, which serves as the mission-critical headquarters for Starbucks Corporation and has stood as an enduring symbol of the brand's heritage and growth."
Starbucks Center, originally occupied by Starbucks in 1993, has undergone more than sixty expansions over the past three decades to accommodate the company's dynamic growth. Spanning a substantial 1,488,081 square feet of office space, the building is widely acknowledged as an architectural icon in one of the West Coast's most sought-after gateway markets. Its evolving infrastructure continues to reinforce its strategic significance within
Further demonstrating its long-term commitment to the property, Starbucks recently signed a new 20-year lease extension, securing its headquarters at Starbucks Center through 2038. To date, Starbucks has invested over
About Nitze-Stagen & Co, Inc.
Nitze-Stagen & Co, Inc.is a multi-generational, integrated real estate investment, development, and management firm with a history of executing ambitious adaptive reuse projects in the Puget Sound Region. These include the Starbucks Center, Union Station, Merrill Place, and the Ainsworth & Dunn Warehouse. In all of its projects the company seeks to create value for both the surrounding communities and its investors.
About Daniels AG真人官方 Estate, LLC
Daniels AG真人官方 Estate, LLC is a development firm with senior leadership that聽has provided unrivaled architectural and artistic contributions to the Seattle Skyline. The company is nationally respected for their focus on adaptive reuse projects and whose team has saved some of
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum.聽For the twelve months ended March 31, 2025, Newmark generated revenues of over
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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FAQ
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