SEATTLE, WA (February 26, 2019) – Bob Spiro, senior vice president/managing director of NorthMarq’s Seattle regional office, secured the $29,195,000 refinance of Edition Apartments, a 135-unit multifamily property located at 18420 102nd Avenue NE in Bothell, Washington. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its in-house Fannie Mae team.
“This loan was completed with the Fannie Mae near-stabilization execution,” noted Spiro. “We were able to lock rate and fund prior to stabilization.”
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 $13 billion, loan servicing portfolio of more than $55 billion and the multi-year tenure of our more than 500 people.