SEATTLE (July 19, 2018) – Bob Spiro, senior vice president of NorthMarq Capital’s Seattle regional office, arranged refinancing of $32,281,000 for Sawyer Trail Apartments, consisting of 234 units located in Frederickson, Washington. The transaction was structured with a 10-year term on a 30-year amortization schedule. Spiro arranged financing for the borrower through NorthMarq’s Fannie Mae DUS program.
“We were able to execute a Streamlined Early Rate Lock (SRL) on this near stabilization asset due to its strong leasing performance and sponsorship,” said Spiro. “This allowed us to quickly rate lock the transaction upon the subject hitting the occupancy, leasing, and projected stabilization requirements for the Near-Stab program.”
About NorthMarq Capital
NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information, please visit www.northmarq.com.