Search

Skanska divests majority interest in 2+U in Seattle, USA, for USD 669M, about SEK 5.5 billion

12/22/2020 8:00 AM CET
Press release

Skanska divests a 95 percent interest in the 2+U office property in Seattle, Washington, USA, for approximately USD 669M, about SEK 5.5 billion, to South Korean financial group Hana Alternative Asset Management, alongside Hana Financial Group. The transaction will be recorded by Skanska USA Commercial Development in the fourth quarter 2020. Hana will immediately begin operations of the 2+U development.

2+U is a comprised of 65,000-square meter (approximately 703,000 RSF) office tower in Seattle’s Central Business District and a 2,200 square-meter open-air community hub on the ground floor, known as the Urban Village, with local retail and cultural space. Office tenants include Qualtrics, Indeed.com, Dropbox Inc. and Spaces.

Construction of 2+U began in the second quarter of 2017, both exterior and interior elements were completed in the third quarter of 2019. Since then, continual tenant adaptions have been made and will continue as tenants move in.

Since 2009, Skanska USA Commercial Development has invested more than USD 2 billion in office and multi-family projects, and has developed offices for tenants including, Waste Management Inc., Bank of America, Brooks Sports, PricewaterhouseCoopers and Tommy Bahama.

Skanska is one of the leading development and construction companies in USA, specializing in building construction, civil infrastructure and developing commercial properties in select U.S. markets. Skanska USA had sales of SEK 74 billion and about 7,900 employees in its operations in 2019.