Mirror Lake Village (August 13, 2018) – Pyatt Broadmark Management, a leader in financing commercial real estate throughout the Pacific Northwest, announced the closing of a $21.6 million construction loan for the completion of a 129 bed assisted living, memory care, and independent living facility in Federal Way, WA.
The steel framed project will total 86,260 square feet, spanning over 8 total buildings. Some of the features will include underground parking, a large dining room, library, media room, outdoor patios/walking areas, and a fitness center. Completion for the senior living facility is scheduled for the second half of 2019. The project’s general contractor is Petra Inc, who has extensive experience with this asset class. The financing was arranged by Glacier Real Estate Finance, which is based in Seattle, WA.
About Pyatt Broadmark
Pyatt Broadmark Management, part of the Broadmark Family of Funds, is a leader in financing large commercial development/construction throughout the United States. Based out of Seattle, the Broadmark family of funds lend in WA, OR, ID, CO, UT, TX, GA, NC, and TN. Since inception, the company has funded more than $1.3 billion of loans and the Broadmark Family of Funds has closed ten, $10MM+ construction loans through July of 2018.