homeWelcome, sign in or click here to subscribe.login



Real Estate

print  email to a friend  reprints add to mydjc  

March 26, 2020

Mercer Mega Block buyer raising $700M

Publicly traded Alexandria Real Estate Equities of Pasadena, California, is a major owner and developer of office and biotech space in the Seattle market. It now has around 1.6 million square feet built or under development here — mostly along Eastlake and in South Lake Union. The company announced this week that it's raising $700 million in a public debt offering. The 4.9% senior notes, due in 2030, will pay down Alexandria's other lines of credit, and be used for general purposes. Among the latter will be the anticipated $143.5 million purchase from the city of its Mercer Mega Block, where two 13-story offices towers and an apartment building are planned on almost 3 acres.

Email or user name:
Forgot password? Click here.