NorthMarq arranges $22.5 million refinance of Sawyer Trail Townhomes - Phase I in Frederickson, Washington
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.”
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
