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July 19, 2024

KKR takes the keys at vacant Cascadian

By JOURNAL STAFF

SEATTLE — In South Lake Union, in the fall of 2021, the then-new Cascadian building sold for $164 million to LPC West and Invesco. The sellers at 330 Yale Ave. N. were Unico Properties and Partners Group. The new owners then had a nearly $188 million loan from Forethought Life Insurance and KREF Capital, the latter related to KKR.

Last Friday, KKR took possession of the vacant building. King County recorded the over $161.7 million deal as a deed in lieu of foreclosure. It was recorded as a zero-dollar transaction. Puget Sound Business Journal first spotted the county records.


 
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