Northmarq Seattle office completes $18M sale, $13M financing of Parkview Apartments in Lynden, WA
LYNDEN, Wash. — Northmarq’s Seattle Investment Sales team of Tyler Smith, Joe Kinkopf, Steve Fischer, Brendan Greenheck and Taylor Wyman brokered the $18.9 million sale of Parkview Apartments, an 86-unit multifamily community located at 801 Aaron Drive in Lynden, Washington.
"It was truly a pleasure working with the seller throughout this process,” said Smith. “They built and maintained a high-class asset in the wonderful community of Lynden, and we are proud to have represented them in achieving a successful outcome. The Parkview Apartments are a testament to their commitment to quality and community. We look forward to the buyer’s continued success and legacy of community that this property represents.”
Northmarq’s Robert Spiro and Ben Biggers structured $13.279 million in acquisition financing on behalf of the buyer through Northmarq’s in-house Fannie Mae delegated underwriting team. The transaction was structured on a seven-year term with one year of interest only payments.
By aligning the debt execution with the sales process, both teams were able to deliver a seamless, end-to-end solution for the buyer that is emblematic of Northmarq’s integrated platform.
“Fannie Mae was able to execute on a low all-in rate and competitive buydown structure, allowing the borrower to acquire the asset with positive leverage,” said Spiro.
With a mix of market-rate and 55+ housing, Parkview West consists of 45 units built in 1995 and 41 newly constructed units delivered in 2024. The low-rise community features a mix of studio, one-, two- and three-bedroom floorplans, averaging 696 square feet.
Meet our team
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 $80 billion and has completed $91.3 billion in transactions over the past fours years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
