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January 17, 2008

CB Richard Ellis

Michal Makar, senior managing director, along with Director Jack Standeford, both of CBRE's Capital Markets group in Seattle, secured financing totaling $185 million on behalf of Bellevue Place Limited Partnership for refinancing of the Hyatt Regency Hotel and construction of its new hotel tower. The loan, financed by Pacific Life Insurance Co., was a combination construction-permanent loan structured on a 13-year term. The expansion will add a second tower with 351 rooms and 36,000 square feet of additional meeting space. It is slated for completion in mid-2009.




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