NorthMarq Capital arranges refinancing of $32,281,000 for Sawyer Trail Apartments in Frederickson, Washington
Sawyer Trail Apts
SEATTLE (July 13, 2018) – Bob Spiro, senior vice president of NorthMarq Capital’s Seattle regional office, arranged refinancing of $32,281,000 for Sawyer Trail Apartments, consisting of 234 units located in Frederickson, Washington. The transaction was structured with a 10-year term on a 30-year amortization schedule. Spiro arranged financing for the borrower through NorthMarq’s Fannie Mae DUS program.
“We were able to execute a Streamlined Early Rate Lock (SRL) on this near stabilization asset due to its strong leasing performance and sponsorship,” said Spiro. “This allowed us to quickly rate lock the transaction upon the subject hitting the occupancy, leasing, and projected stabilization requirements for the Near-Stab program.”
“We were able to execute a Streamlined Early Rate Lock (SRL) on this near stabilization asset due to its strong leasing performance and sponsorship,” said Spiro. “This allowed us to quickly rate lock the transaction upon the subject hitting the occupancy, leasing, and projected stabilization requirements for the Near-Stab program.”
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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.
