02:36 PM EDT, 05/29/2026 (MT Newswires) -- Blackstone (BX) is selling the US Bank Center in Seattle to office landlord Spear Street Capital for about $280 million, 54% less than what it paid for the building seven years ago, Bloomberg reported Friday, citing people with knowledge of the deal.

Deal for the 44-story downtown tower has not closed yet and depends on the availability of financing, according to the report.

"We believe this sale is the most optimal outcome for our investors and all parties involved," a Blackstone spokesperson said, Bloomberg reported. "Fortunately, US traditional office represents less than 1.5% of our portfolio, and we effectively wrote off this investment in 2023," the spokesperson added.

Blackstone and Spear Street Capital did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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