Northmarq arranges $8.95 million refinance for Monticello Apartments in Seattle

Monticello Apts
Debt & Equity
Multifamily
Debt
Permanent Loan - Fixed
Fannie Mae
Fannie Mae/FHA
107-unit, multifamily property

SEATTLE (Sept. 30, 2024) — Northmarq’s Seattle Debt + Equity team led by Robert Spiro secured a $8.95 million internal refinance of Monticello Apartments, a 107-unit, multifamily property located at 415 Boren Ave. in Seattle.

Northmarq arranged the financing through the firm’s Fannie Mae delegated underwriting program. The permanent loan was structured with a fixed interest rate.

“FNMA executed a competitive structure to meet the client’s needs,” Spiro said.

Monticello features studio, one, two and three-bedroom apartments that feature options for a private balcony, open floor plans, breakfast bar, and city views. It is a pet friendly location that also features reservable on-site parking, package lockers, bike racks, and on-site laundry and maintenance.

The property boasts a location that is just blocks from access to Interstate 5, less than a mile from downtown Seattle and is a 30-minute walk to the Seattle waterfront. Monticello is located near public transportation and is minutes to shopping, dining and entertainment options. 
 

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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.
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