SEATTLE, WASHINGTON – Bob Spiro, managing director and Scott Moline, vice president of NorthMarq’s Seattle office arranged the $37.44 million refinance of Glacier Run – Phase I. The 240-unit multifamily property is located at 12020 Sunrise Boulevard East in Puyallup, Washington.
The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq, a Fannie Mae lender, secured financing for the borrower. Glacier Run features garden-style apartment units with a variety of amenities. Common amenities include a heated pool, fitness center, dog park, three season room, and clubhouse. Individual units feature large open spaces with high-end finishes including quartz counter tops and stainless steel appliances.
“We were able to provide construction take-out financing that was competitively priced with a streamlined closing process during these challenging times,” said Spiro.
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 more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.