SEATTLE, WASHINGTON (April 2, 2020) – Bob Spiro, senior vice president/managing director and Scott Moline, vice president, of NorthMarq’s Seattle office secured the $22.5 million refinancing of Sawyer Trail Townhomes – Phase I. The multifamily property is located at 17516 44th Ave East in Frederickson, Washington. This is the third phase of the Sawyer Trails development and the subject phase consists of 90 townhome units. The permanent-fixed rate loan was structured with a 10-year term on a 30-year amortization. NorthMarq arranged financing for the borrower through its in-house Fannie Mae team.
“This is the third phase of an $80 million finance package over the last two years with Fannie Mae,” said Spiro. “We were able to successfully close this transaction and serve as an advisor through turbulent times in the capital markets. We remain committed to providing our best market intelligence and meeting our clients’ needs despite current market conditions and uncertainty. Fannie Mae continues to provide liquidity to the multifamily market during these challenging times.”