Brookfield Pays $365 Million for Facebook Office Outside Seattle
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A real estate fund backed by Brookfield Asset Management Inc. is buying an office in a Seattle suburb leased to Facebook Inc., a sign that commercial-property markets are thawing for some buildings after the pandemic put a chill on deals.
The buyer is paying $365 million for the 343,528-square-foot (31,915-square-meter) building, called Block 16, according to a statement to be released Friday. The sellers of the property -- part of the Spring District in Bellevue, Washington -- are Wright Runstad & Co., Shorenstein Properties and institutional investors advised by JPMorgan Asset Management.