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March 19, 2020

CBRE secures $115M for Danforth deal

The two-year-old Danforth, at 1425 Spring St., on First Hill, sold in December for about $209 million to Vanbarton Group of New York. Brokers were not announced at the time. (Columbia Pacific Advisors was the developer and seller.) Now CBRE has provided some transaction details. Its John Lo secured $115.5 million for Vanbarton from an unnamed European lender. The interest rate wasn't specified, but Lo called it “historically low.” The 16-story, 265-unit Danforth is now 96% leased, according to CBRE. Its anchor tenant is Whole Foods.




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