May 13, 2013

Arranged $1.6 Million Mortgage for Retail Property in Sammamish, Washington

Sammamish Retail

Debt & Equity

Multi-Tenant

SEATTLE (May 13, 2013) Bob Spiro, senior vice president and managing director of NorthMarq’s Seattle regional office, arranged acquisition financing of $1.6 million for 721 228th Avenue NE, a 5,890 sq. ft. retail property in Sammamish, Washington. Three tenants occupy the site - Key Bank, Papa Johns and a Dry Cleaners. Financing was based on a 20-year term and a 20-year amortization schedule and was arranged for the borrower, Aliza LLC, by NorthMarq through its relationship with a correspondent life company lender. “The borrower liked that the deal was fixed for 20 years and the low leverage was fine as it accommodated his tax-free exchange,” Spiro stated. “The lender will finance Canadian owners on a low-leverage basis at 50 percent of purchase price.”

Available Retail (MT) properties

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.