Arranged $17.19 Million Mortgage for Quail Park at Lynnwood in Lynnwood, Washington
Quail Park at Lynnwood
SEATTLE (January 16, 2013) – Stuart Oswald, senior vice president and managing director of NorthMarq’s Seattle Regional office, arranged construction financing of $17.19 million for Quail Park at Lynnwood located at 4015 164th Street SW in Lynnwood, Washington. The asset is a senior housing facility consisting of 130 units which includes 85 independent/assisted living units and 45 memory care units. Financing was based on a 4-year interest-only term and was arranged for the borrower, Quail Park at Lynnwood, LLC, by NorthMarq through its relationship with a regional bank. “Despite the abundance of available capital in today’s market, there remains a very limited number of construction lenders for senior housing,” said Oswald. “We were pleased to find a strong regional bank for this project which is our fifth transaction for this client in the past two years.”
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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.
