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Skanska Commercial Development

Skanska sells share in 2+U office tower to Hana Alternative Asset Management

Skanska, a leading global development and construction firm, today announced South Korean financial group Hana Alternative Asset Management, alongside Hana Financial Group, will purchase a 95 percentage stake in the Skanska-developed and built 2+U office and retail tower in Seattle for approximately $669 million. The divestment will be recorded by Skanska Commercial Development USA in the fourth quarter of 2020. Hana will acquire and begin operations of the 2+U development immediately in conjunction with Hines asset management and property management.  Skanska will continue to be involved in the project and complete the ground plane and retail vision. The divestment marks the largest single-property real estate transaction in the U.S. since the beginning of the Covid-19 pandemic.

Completed in late 2019, 2+U is a thoughtfully designed 38-story office tower and retail village named after its location at Second Avenue between Union and University streets in the heart of downtown Seattle. The 703,000-square-foot tower was recently honored with the 2020 NAIOP Washington Office Development of the Year Award in November.

“Skanska is pleased to be partnering with Hana on 2+U. Hana is a well-respected professional organization that has a long history of owning top tier Class A+ office buildings in international markets. They are well positioned for the future and will help shape and refine what 2+U will become for the community, our city, and our tenants,” said Murphy McCullough, Executive Vice President for Skanska USA Commercial Development’s Seattle market.

Skanska is making the announcement following the signing of two retail leases within the Urban Village at 2+U, with both One Workplace’s The Shop by Porter, and Valiant Barber & Supply opening new locations at 2+U in the coming year.