SEATTLE, WASHINGTON (April 9, 2020) – Bob Spiro, senior vice president/managing director and Scott Moline, vice president, of NorthMarq’s Seattle office secured the $22.5 million refinancing of Sawyer Trail Townhomes – Phase I. The multifamily property is located at 17516 44th Ave East in Frederickson, Washington. This is the third phase of the Sawyer Trails development and the subject phase consists of 90 townhome units. The permanent-fixed rate loan was structured with a 10-year term on a 30-year amortization. NorthMarq arranged financing for the borrower through its in-house Fannie Mae team.
“This is the third phase of an $80 million finance package over the last two years with Fannie Mae,” said Spiro. “We were able to successfully close this transaction and serve as an advisor through turbulent times in the capital markets. We remain committed to providing our best market intelligence and meeting our clients’ needs despite current market conditions and uncertainty. Fannie Mae continues to provide liquidity to the multifamily market during these challenging times.”
As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $14+ billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our more than 500 people.