Northmarq completes $8.3 million refinance of Seaway Ridge in Everett, Washington
SEATTLE, WASHINGTON (October 26, 2022) – Scott Moline, vice president and Bob Spiro, senior vice president/managing director of Northmarq’s Seattle office successfully arranged the $8.3 million refinance of Seaway Ridge. The 190,768 sq. ft. industrial/office building is located at 1930 Merrill Creek Parkway in Everett, Washington. The property, built in 1996, features 28' clear height, ESFR sprinklers, 44 dock doors, excellent maneuverability for large trucks, and easy access to I-5 from SR 526. The property is currently 100 percent occupied by three tenants.
The transaction was structured with a 10-year interest-only term. Northmarq secured the permanent fixed-rate loan for the borrower through its relationship with a regional bank. “We were able to provide competitive loan terms with a quick rate lock process, which was critical at this point in the market,” said Moline.
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.
