After identifying the most competitive options available in today’s capital markets, Newmark was able to deliver a new loan providing huge cash flow savings for the borrower.
SPOKANE, WA – Newmark™ has arranged financing in the amount of $13,775,000 secured by the historic US Bank building located in downtown Spokane. Demetri Koston, Vice President of Newmark’s Spokane office, worked on behalf of the borrower to arrange the highly competitive fixed-rate loan. After identifying the most competitive options available in today’s capital markets, Newmark was able to deliver a new loan providing huge cash flow savings for the borrower.
Built in 1910, the building was the first skyscraper located in the inland Northwest. Upon completion, the 15-story tower became a symbol of the rising economy of the inland empire. The building is currently anchored by US Bank, which acquired Old National Bank nearly thirty years ago. To this day, the building is well-maintained and has helped define the skyline of Spokane.
Newmark is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.