NorthMarq’s Seattle office completes $37,440,000 refinance of Glacier Run – Phase I in Puyallup, Washington
SEATTLE, WASHINGTON (August 19, 2020) – Bob Spiro, managing director and Scott Moline, vice president of NorthMarq’s Seattle office arranged the $37.44 million refinance of Glacier Run – Phase I. The 240-unit multifamily property is located at 12020 Sunrise Boulevard East in Puyallup, Washington.
The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq, a Fannie Mae lender, secured financing for the borrower. Glacier Run features garden-style apartment units with a variety of amenities. Common amenities include a heated pool, fitness center, dog park, three season room, and clubhouse. Individual units feature large open spaces with high-end finishes including quartz counter tops and stainless steel appliances.
“We were able to provide construction take-out financing that was competitively priced with a streamlined closing process during these challenging times,” said Spiro.
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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 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.
