Multifamily - Debt

NorthMarq Capital arranges refinancing of $32,281,000 for Sawyer Trail Apartments in Frederickson, Washington

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.”

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.