SEATTLE (October 27,2014) – Bob Spiro, senior vice president/managing director and Chris Pohlad, vice president of NorthMarq Capital’s Seattle based regional office arranged the refinancing of two multifamily properties in Puyallup and Seattle worth a combined $52.709 million. NorthMarq arranged financing for the borrower in both transactions through its affiliate AmeriSphere Multifamily Finance, LLC, a Fannie Mae DUS lender.
Riverside Park Apartments: This 379-unit property, located at 3107 E. Main Avenue in Puyallup, Washington was refinanced at $32.059 million. The transaction was structured with a 10-year term and 30-year amortization schedule.
Boxcar Apartments: This 145-unit property, located at 975 John Street in Seattle, Washington received refinancing of $20.65 million. The transaction was structured with a 10-year term and 30-year amortization schedule.