NorthMarq Capital’s Seattle office arranges $9.68 million refinance for multifamily property in Seattle, Washington

Minor Tower Apts

Debt & Equity

Multi-Tenant

SEATTLE (July 19, 2016) – Scott Gilson, vice president of NorthMarq Capital’s Seattle-based regional office, arranged a $9.685 refinance for Minor Tower Apartments, a 34-unit multifamily property located in 2525 Minor Ave East in Seattle, Washington. The transaction was structured with a 7-year term with 2-years interest only and 30-year amortization. NorthMarq arranged financing for the borrower through its seller-servicer relationship with Freddie Mac. “Minor Tower Apartments was a refinance of a bridge loan I had originated 2 years prior. The client’s main objective was to get a cash-out nonrecourse loan in the mid-three percent range with a few years of interest only. The debt we placed on the asset achieved all of those goals and gives the client the capability to get supplemental financing down the road,” said Gilson.

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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.