Hines Global REIT has inked an agreement to buy Fisher Plaza, a mixed-use facility situated near downtown Seattle, for $160 million. The property’s owner, Fisher Communications, will continue as the property’s biggest tenant with a 12-year lease for the media innovator’s corporate office and television, radio and Internet business.
Moelis & Co. was Fisher’s financial adviser on the deal which is projected to be completed by the end of this year. Fisher plans to utilize a part of the sale proceeds to pay off outstanding debt. Hines Global REIT is a Houston-based, public, non-listed real estate investment trust sponsored by privately owned Hines.
Click here for the release from Marketwire.