SEATTLE — Hines Global REIT has sold the Komo Plaza data center in downtown Seattle for $276 million. The sale delivers a strong return for the REIT, which acquired the property in 2011 for $160 million.
The buyer is GI TC Seattle, LLC, an affiliate of GI Partners, the San Francisco-based investment firm.
The Komo Plaza complex is a six-story, multi-tenant facility made up of two interconnected buildings totaling 294,000 square feet. Completed in 2003, the project was developed by Fisher Properties.
Hines was represented in the transaction by legal counsel Connie Simmons Taylor, a Houston partner at Baker Botts, along with associate Sarabeth Peele.
Houston-based Hines Global REIT is a publicly registered, non-traded real estate investment trust sponsored by Hines. The REIT holds interests in 41 real estate assets across the United States and internationally.
Dec. 27, 2016 Realty News Report Copyright 2016