SEATTLE — Hines Global REIT sold the Komo Plaza data center building in downtown Seattle for $276 million. The deal represents a handsome return for the REIT, which bought the property in 2011 for $160 million.
The buyer was GI TC Seattle, LLC, which is affiliated with the GI Partners investment organization in San Francisco.
The six-story, multi-tenant complex consists of two buildings that contain a total of 294,000 sf. The building, completed in 2003, was developed by Fisher Properties.
Representing Hines as legal counsel in the Komo deal were Connie Simmons Taylor (Houston partner at Baker Botts) and associate Sarabeth Peele.
Houston-based Hines Global REIT is a public, non-listed real estate investment trust sponsored by Hines that owns interests in 41 real estate investments located in the United States and internationally.
Dec. 27, 2016 Realty News Report Copyright 2016