NorthMarq Capital's Seattle office arranges $27 million refinancing of 12 Central Apartments in Bellevue, Washington

12 Central Apts
Debt & Equity
Multi-Tenant
Multifamily
Debt
b39c7244-5c0a-4c0b-82e2-d882218d8c90
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.
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