HGC is thrilled to announce its collaboration with Stockbridge and Capstone Partners NW for the successful completion of the Dexter Office Building in downtown Seattle, Washington. This impressive 10-story office building, sponsored by Stockbridge and Capstone Partners NW, sets a new standard for innovation and collaboration in the heart of the city.
The Dexter Station building, spanning approximately 338,000 rentable square feet, is strategically designed to cater to technology, life sciences, and other innovation industries. With a focus on fostering collaboration and inspiring breakthrough thinking, the building provides an ideal environment for businesses to thrive. Its proximity to Amazon's growing campus further enhances its appeal as a prime location for cutting-edge companies.
With a total budget of $137 million, the Dexter Office Building has received substantial financial backing. The developer invested $74 million, while HGC, along with other limited partners, contributed $63 million to support this visionary project. HGC's investment highlights its commitment to transformative real estate ventures and its dedication to fostering economic growth in Seattle.
Construction on the Dexter Office Building commenced in February 2013, and the project was successfully completed in early 2015, with operations officially starting in May 2015. The swift completion of the project showcases HGC's efficient execution and ability to deliver high-quality developments that meet the evolving needs of the market.
The project developer, Stockbridge Capital Group, is a registered investment advisor with the U.S. Securities and Exchange Commission (SEC), managing over USD5.3 billion in assets. Their expertise lies in the integrated development of medium to large real estate projects. Capstone Partners NW, LLC, an experienced real estate development firm, is currently involved in the development of nearly 1.4 million square feet of residential, office, and factory space in the Seattle and Portland areas, with an estimated value of approximately USD350 million.