Skanska divests majority interest in office building in Seattle

Sweden — Swedish Skanska divests a 90 percent interest in its 400 Fairview project in Seattle, USA, for USD 235 million (€214 M), to TIAA-CREF, a leading financial services organization.

2015-12-11

The TIAA Real Estate Account, a TIAA insurance separate account, will hold the interest in the property following the acquisition.

The 30,000 sqm office and retail building in Seattle, Washington, includes the headquarters of US-based companies Tommy Bahama, Impinj and Car Toy’s/Wireless Advocates.

Skanska has formed a partnership with TIAA-CREF and will continue as the managing partner of the asset on behalf of the joint venture.