Newmark has arranged a $238 million refinancing for Lincoln Square North, an office tower in Bellevue, Washington.
Newmark Co-President of Global Debt & Structured Finance Jonathan Firestone, Vice Chairman Blake Thompson and Associate Director Jack Condon secured the funding on behalf of owner Kemper Development Company. The refinancing was provided by Blackstone and New York Life.
Lincoln Square North is a 25-story, 561,466-square-foot office tower that is 100% leased and prominently positioned within The Bellevue Collection. Developed by Kemper in 2007, the property features premier amenities, on-site security and management, smart parking and direct connectivity to over 1.8 million square feet of retail, dining and entertainment.
“This financing underscores the exceptional performance and institutional quality of Lincoln Square North and the strength of the Bellevue market,” said Firestone. From November 2023 through March 2025, over 461,000 square feet of new office leases were signed or commenced, representing over 25% of the total office leasing activity in the Bellevue CBD during the same period.
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