MetLife closes $46M refinance of Millennium Tower

Millennium Tower LLC has refinanced the 200,000 sq. ft. commercial unit of Millennium Tower, a 20-story, mixed-use property in downtown Seattle. Millennium Tower LLC completed the project in 2001 and this $46 million financing retired the project’s construction loan from U.S. Bank and Zions Bank.

Millennium Tower was developed by a joint venture between local developer Greg Smith and his partners at Martin Smith Development Corp. and Boston-based Beacon Capital Partners. The building consists of six floors of luxury residential condominiums above 14 floors of Class-A office space and seven floors of underground parking. The project, which was 95% leased upon completion, boasts one of the strongest tenant rosters in Seattle, including Goldman Sachs, Orrick, Herrington & Sutcliffe LLP and Amgen Corp.

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