WASHINGTON — The Sage Creek Group has closed $11.4 million in permanent financing for Samish Station, a recently constructed student housing complex in Bellingham, WA, located at 109 Samish Way. The two-building property features 53 units for students.
Tim Van Valin represented the borrower in the transaction. The loan proceeds were used to retire the senior construction loans, provide cash to the borrower and cover closing costs. The eight-year loan features a fixed rate near three percent with 24 months interest-only payments followed by a 28-year payment schedule.
About The Sage Creek Group
The Sage Creek Group is a boutique commercial real estate advisory firm with a proven track record of securing both traditional and non-bank debt for any commercial loan scenario. SCG provides its clients with fast and reliable access to capital through a large suite of conventional, institutional, and non-bank financing products with industry-leading pricing and terms.