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Seattle Commercial Real Estate

REFI MADNESS

In the wave of refinancing short-term loans made at the end of the market bubble in 2006 and 2007, fully occupied properties are getting the bridge money available, says Glenn Gioseffi, a director at Marcus & Millichap Capital Corp. Glenn arranged for an $8.4M cash out refi for a 285K SF apartment building in Kent last week. Other trends he's noticing? Fannie Mae and Freddie Mac are amiable to refis for multifamily housing, while regional banks and the big life companies are lending to a lesser extent. "They're all interested in multifamily and single-tenant retail like Walgreens and some of the big grocery stores," Glenn tells us. What about smaller retail? "Not as much."

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Related Topics: Millichap Capital Corp
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