NorthMarq Secures $29.2M Refi For Bothell Multifamily
NorthMarq’s Seattle regional office recently secured the $29.2M refinance of the Edition Apartments. Edition Apartments is a 135-unit multifamily property at 18420 102nd Ave. NE in Bothell.
The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing with the borrower through its in-house Fannie Mae team.
“This loan was completed with the Fannie Mae near-stabilization execution,” NorthMarq’s Seattle regional office Senior Vice President/Managing Director Bob Spiro said.
“We were able to lock rate and fund prior to stabilization,” said Spiro, who secured the loan.