NorthMarq secures $9.25 million in acquisition financing for commercial land assemblage in Seattle, Washington

Commercial Land Assemblage
Debt & Equity
Multi-Tenant
Other
Debt
Bridge/Mezz

CHARLOTTE, NORTH CAROLINA (June 2, 2021) – Mark Ebersold, vice president in NorthMarq’s Charlotte office arranged acquisition financing of a commercial land assemblage in Seattle, Washington. The transaction, structured with a 1-year interest-only term, closed within 30 days and enabled the borrower to complete the assemblage needed for a multi-family development. The creative structure of the transaction provided the client the ability to borrow 100 percent of the proceeds needed to purchase the land, while using additional collateral to give the lender adequate underwriting comfort. NorthMarq arranged financing for the borrower through its relationship with a bridge lender.    

 “NorthMarq was able to find the one lender capable of providing the maximum loan proceeds by agreeing to take preferred equity as additional collateral,” said Ebersold. 

 

 
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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.
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