Northmarq completes acquisition financing of $2.5 million for Hilltop Retail Center in Woodinville, Washington
SEATTLE, WASHINGTON (August 3, 2022) –Bob Spiro, senior vice president/managing director and Scott Moline, vice president of Northmarq’s Seattle office completed acquisition financing of $2.5 million for the $6.86 million purchase of Hilltop Retail Center. The 15,094 sq. ft. unanchored strip retail property is located at 15610 Woodinville-Duvall Road in Woodinville, Washington. The property was constructed in 2008 and it is currently configured with eleven retail suites and one pad space. The property is 100 percent leased.
The transaction was structured with a fully-amortizing 20-year term. Northmarq secured the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.
“We were able to provide 20 year fixed-rate acquisition financing for this transaction. This was the sixth retail transaction this client has done with the lender, which led to a smooth and efficient loan closing process,” said Spiro.
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.
