SPOKANE, WA – Newmark® has arranged $5,000,000 in permanent financing for the Village at Regal Pond in Spokane, WA. The 100% occupied, 22,367 sf retail property is situated in a premier submarket of the Inland Northwest.
Demetri Koston, Principal in Newmark’s Spokane office, and Skip Slavin, Vice President in Newmark’s Seattle office, arranged the non-recourse financing with one of Newmark’s correspondent life companies. The Newmark team was able to secure the 20-year term, fully-amortizing loan at a highly competitive rate. In addition, the loan will be serviced by Newmark at no additional cost to the borrower.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $12 billion represents over 1,300 loans located in 40 states. 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.