Home Finance $24MM In Financing Secured for Green River Village Apartments in Auburn

$24MM In Financing Secured for Green River Village Apartments in Auburn

IPA, Marcus & Millichap, Green River Village Apartments, Auburn
Courtesy of Marcus & Millichap

Auburn, Washington, July 12, 2021 – IPA Capital Markets, a leading provider of commercial real estate capital markets solutions, announced that it has arranged refinancing of Green River for approximately $24MM.  Green River is a compilation of 146 units built between 1971-1976.  In 2019, Institutional Property Advisors placed a $17.9MM bridge loan to complete property renovations.  The new $24MM loan was a loan modification allowing the investors to capitalize on the repositioning of the property. 

The refinancing was arranged with a local commercial bank and was negotiated by Ray Allen & Seth Heikkila with Institutional Property Advisors in the Seattle office of Marcus & Millichap.

About Marcus & Millichap Capital Corporation

Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales and consultative and due diligence services. In 2020, MMCC closed 1,943 transactions totaling $7.67 billion.