NorthMarq Capital's Seattle office arranges $27 million refinancing of 12 Central Apartments in Bellevue, Washington
12 Central Apts
SEATTLE (May 8, 2014) – Ron Peterson, senior vice president/managing director of NorthMarq Capital’s Seattle based regional office, arranged a refinance for $27 million for 12 Central Apartments, a 204-unit garden style conventional market multifamily property located at 10290 NE 12th St, Bellevue, Washington. Financing for the transaction was structured with a 10-year term and 30-year amortization schedule and was arranged for the borrower by NorthMarq through its seller/servicer relationship with Freddie Mac. Freddie Mac refinanced one of their existing loans for a property with a 50-yard line location in Bellevue where the LTV was very low. Freddie locked the rate early and funded five months later so the borrower did not have a prepayment penalty.
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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.