BECU buys 8 buildings next to its Tukwila headquarters for $78M

December 29, 2016 | 0 Comments | Deals, Growth

, Marc Stiles

BECU this week paid $78 million for eight buildings next to the credit union's Tukwila headquarters, shown here.

BECU this week paid $78 million for eight buildings next to the credit union’s Tukwila headquarters, shown here.

BECU, the largest credit union in Washington state, is the new owner of eight large buildings next to its headquarters building in Tukwila.

The credit union paid a total of $78 million for the buildings in the Gateway Corporate Center, according to a deed that King County posted Tuesday. The buildings have a total of nearly 375,000 square feet, or more than twice as much as BECU’s headquarters building at 12770 Gateway Drive.

It was unclear why BECU bought the buildings at the junction of State Route 599 and Interstate 5, just north of the Westfield Southcenter shopping mall. Credit union representatives did not respond to requests for comment.

Rreef, which is part of Deutsche Asset & Wealth Management, sold the buildings to BECU.

BECU is by far the largest credit union in the state, with nearly $14.5 billion in assets and 910,650 members as of January, according to Puget Sound Business Journal research. The Washington State Employees Credit Union was second largest with $2.4 billion in assets and 232,180 members.

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