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Bellevue’s Bravern Towers Face $304M Mortgage Strain After Microsoft Exit
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Bellevue’s Bravern Towers Face $304M Mortgage Strain After Microsoft Exit
The Bravern office towers in downtown Bellevue are facing imminent default on $304 million in mortgage debt, following the departure of Microsoft from the property earlier this year. The 750,000-square-foot complex, once fully leased by Microsoft since 2009, transferred to a special servicer on Sept. 5, according to a commercial mortgage-backed securities report. Loan servicer notes from Sept. 15 cited concern for an “imminent monetary default” …
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