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December 22, 2011
Thornton Place in Seattle obtained $75.5 million in financing from Cornerstone Real Estate Advisers LLC. Gary Beem of Northwest Commercial Mortgage and Mark Capeloto and Michal Makar of CBRE Capital Markets Debt & Equity Finance arranged the long-term loan. Stellar Holdings represents the LLC that owns the property. Thornton Place has 115,000 square feet of commercial space anchored by Regal Cinema and the University of Washington Northgate Clinic, which is scheduled to open this spring. The complex has 279 apartments, 109 townhouses and a 922-stall underground garage with 350 stalls leased to the King County Metro Park and Ride.