NorthMarq’s Seattle office arranges $29.195 million refinance of Edition Apartments in Bothell, Washington
SEATTLE, WASHINGTON (March 1, 2019) – Bob Spiro, senior vice president/managing director of NorthMarq’s Seattle regional office, secured the $29,195,000 refinance of Edition Apartments, a 135-unit multifamily property located at 18420 102nd Avenue NE in Bothell, Washington. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its in-house Fannie Mae team.
“This loan was completed with the Fannie Mae near-stabilization execution,” noted Spiro. “We were able to lock rate and fund prior to stabilization.”
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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.
