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April 10, 2025

Selig buildings into Kidder Mathews' hands

As the Martin Selig Real Estate delinquent loan saga slowly and painfully unfolds, Kidder Mathews recently announced that it's managing a seven-building portfolio on behalf of a receiver. The properties are clustered in Belltown and Lower Queen Anne, and span about 1 million square feet. They range from Class A to Class B; some are recent construction, while others date to the 1970s. Kidder didn't disclose their vacancy rates. Its Erin French said of the group, “We see tremendous potential in this portfolio and a clear path to enhancing its long-term success. Our focus is to optimize operations, enrich the tenant experience, and foster vibrant environments at each property.” Among the portfolio is the so-called Darth Vader Building, aka Fourth & Blanchard. Separately, Cushman & Wakefield is seeking to sell several Selig parking lots and older office buildings in the Uptown area. Jordan Selig also recently announced her departure from the family business; there, The Seattle Times reported last month, 86 staff members were laid off. As of last year, Selig had about three dozen properties (offices and parking lots), with three separate loan packages totaling over $750 million.




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