SEATTLE (February 14, 2018) – Stuart Oswald, senior vice president/managing director of NorthMarq Capital’s Seattle regional office, originated a $21,850,000 take out loan for the SAMM Apartments, a 92-unit multifamily property located in Sammamish, Washington. The complex has a modern design with open floor plans and is located in an affluent bedroom community to Bellevue and Seattle. The transaction was structured with a 15-year term on a 30-year amortization schedule, with 1 year interest only. The structure allowed the owner, an investment group which includes Sealevel Properties and a local investor, to close well before the property achieved stabilized occupancy. NorthMarq arranged financing for the borrower through a correspondent life company.
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 its 37 offices nationwide. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, with a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes approximately $13 billion in commercial real estate loans annually and services a loan portfolio of more than $50 billion. For more information please visit www.northmarq.com.
