NorthMarq Capital's Seattle office arranges $27 million refinancing of 12 Central Apartments in Bellevue, Washington
12 Central Apts
SEATTLE (May 8, 2014) – Ron Peterson, senior vice president/managing director of NorthMarq Capital’s Seattle based regional office, arranged a refinance for $27 million for 12 Central Apartments, a 204-unit garden style conventional market multifamily property located at 10290 NE 12th St, Bellevue, Washington. Financing for the transaction was structured with a 10-year term and 30-year amortization schedule and was arranged for the borrower by NorthMarq through its seller/servicer relationship with Freddie Mac. Freddie Mac refinanced one of their existing loans for a property with a 50-yard line location in Bellevue where the LTV was very low. Freddie locked the rate early and funded five months later so the borrower did not have a prepayment penalty.
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
