Our Seattle office offers a complete range of financing options for all types of commercial real estate. We serve the entire Pacific Northeast region and can arrange commercial real estate loans for any property type through our unmatched network of lending partners. Call our local office to learn more.
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SEATTLE, WASHINGTON (July 27, 2022) – Jake Leibsohn, senior vice president/senior director of Northmarq’s Seattle debt/equity team was selected by ConnectCRE as a recipient of their Top Mortgage Brokers & Lenders award. The recognition honored top industry leaders and professionals who experienced an especially impactful year in 2021.
Leibsohn finished within the top 15 producers in 2020 and 2021 for the company nationwide, completing 30 transactions (sourced from 18 different lenders) totaling more than $500 million during 2021 alone.
Notable transactions included:
SEATTLE, WASHINGTON (November 2, 2021) – Jake Leibsohn, vice president of Northmarq’s Seattle office, discusses the trend of investors following residents to Seattle’s suburbs and how cap rates have compressed since the start of the pandemic in Western Multifamily & Affordable Housing Business. The story focuses on how more development opportunities cropping up outside the urban core, driven partly by an expanding light rail system, are prompting a strategic shift.
“If you’re buying something for an in-place, sub-4 percent cap rate, it’s likely because you are betting on the long-term rent growth potential in Seattle, which is a good bet,” said Leibsohn.
MINNEAPOLIS, MINNESOTA (January 11, 2021) — SouthEast Effective Development (SEED) received a 2020 Community Involvement Grant from NorthMarq’s Seattle office. The organization’s mission is to improve quality of life in Southeast Seattle by creating partnerships and inspiring investments in housing, arts, and economic development, with a special focus on residents with fewer opportunities and resources.
Founded in 1975 by community members searching to improve the quality of life in Southeast Seattle, SEED has assisted in the revival of the historic Columbia City business district, as well as improving access to health care for residents, expanding affordable housing, and nurturing the arts/culture. SEED partners with education and training partners to find skills development pathways for residents to meet the needs of local businesses through custom training/education programs, employment recruitment, labor market and wage analysis, internships, and apprenticeships.
“Our office was introduced to SEED in 2018 by US Bank who was underwriting a construction loan for them on a 100 percent affordable, 4 percent tax credit project. NorthMarq provided a Freddie Mac TEL loan commitment for SEED for this 4 percent project in 2018. Later in 2018, we closed a conventional Freddie Mac loan on an existing 100 percent affordable project that had 9 percent tax credits. We are grateful to support and be in business with such a mission-driven company,” said Stuart Oswald, managing director – debt/equity.
In the third year of NorthMarq’s Community Involvement Grant program, the company has awarded grants to 18 non-profits in 16 cities. The program solicits nominations from each local office, and had an increase of 20 percent from 2019, with a total of 18 non-profits focused on affordable housing and reducing homelessness receiving these grants in 2020. NorthMarq’s 2020 grant to New Hope Housing represents its third award under the Community Involvement Grant program.
Stuart Oswald, senior vice president/managing director of NorthMarq Capital’s Seattle-based regional office, was recently featured in the July/August edition of Real Estate Forum in an article titled “Senior Housing’s Limitless Boom.” In the article, Oswald discusses how the next 20 years will see unprecedented growth in the nation’s senior population and how this growth will lead to increased development in the senior housing sector from both experienced operators and new firms. But that doesn’t mean finding financing solutions in this highly specialized category will be easy. Read the article here.
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Freddie Mac’s Confidence in Western U.S. on the Rise
Freddie Mac continues to be bullish in the Western U.S. and particularly so in the Seattle MSA, where overall occupancy rates are above 95 percent. In-fill submarkets are particularly strong with some areas at 97 percent occupancy or better. Seattle has been one of the top cities for rent growth over the past few years and is expected to stay strong, although projected rent increases will likely slow. Freddie Mac nationally has had a slower first quarter than typical, but still did annual production of $17.5 billion for the first quarter.
