Newmark Group, Inc. arranged a $525 million refinancing for The Artise, a 25‑story Class A+ office tower in downtown Bellevue, Washington. The transaction, completed on March 31 2026, was funded by Goldman Sachs and Deutsche Bank and replaces the tower’s existing debt. The refinancing supports the building’s 99 % occupancy rate and aligns with the owners’ long‑term investment strategy.
The deal provides Schnitzer West and The Baupost Group with a competitive interest rate and extended maturity, allowing the owners to refinance existing debt at a lower cost while maintaining a strong balance sheet. The new structure also offers flexibility for future capital expenditures and preserves the building’s high occupancy, which is critical for sustaining cash flow in a premium market.
Newmark’s capital‑markets team led the transaction. Jonathan Firestone, Co‑President of Global Debt & Structured Finance, said, "Securing this refinancing for The Artise underscores lender confidence in Bellevue's premier office market and the long‑term durability of this tenancy." Blake Thompson, Vice Chairman, and Kevin Shannon, Co‑Head of U.S. Capital Markets, also oversaw the deal, highlighting Newmark’s expertise in arranging large‑scale debt for high‑quality assets.
The refinancing comes amid a strong quarter for Newmark. In Q4 2025, the company reported record revenue of $1.001 billion, a 15.3 % year‑over‑year increase, and an adjusted EPS of $0.68, beating consensus estimates. Adjusted EBITDA rose 17 % to $214 million, and leasing revenues surpassed $1 billion for the first time annually. The transaction demonstrates Newmark’s continued ability to secure significant financing while maintaining robust financial performance.
The Artise building itself is a 25‑story, Class A+ tower completed in 2024, featuring LEED Gold certification, a public plaza, and 927 below‑grade parking stalls. Amazon had previously leased the entire building as part of its Bellevue HQ2 expansion, and construction resumed in late 2025 after a pause in 2022. Jordan Suther, Senior Director at Schnitzer West, noted, "The Artise reinforces the strength of Bellevue as a critical business hub. The refinancing reflects the continued value of well‑located, best‑in‑class office assets with strong tenancy. We're pleased to see ongoing confidence from the capital markets."
The refinancing reinforces Bellevue’s status as a premium office market and underscores Newmark’s strength in capital‑markets advisory. By securing a competitive structure for a high‑quality asset, Newmark demonstrates its ability to support clients’ long‑term investment strategies while maintaining strong relationships with leading lenders. The deal also signals continued demand for premium office space in the region and positions Newmark for future transactions in similar markets.
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