Arranged $17.19 Million Mortgage for Quail Park at Lynnwood in Lynnwood, Washington
Quail Park at Lynnwood
SEATTLE (January 16, 2013) – Stuart Oswald, senior vice president and managing director of NorthMarq’s Seattle Regional office, arranged construction financing of $17.19 million for Quail Park at Lynnwood located at 4015 164th Street SW in Lynnwood, Washington. The asset is a senior housing facility consisting of 130 units which includes 85 independent/assisted living units and 45 memory care units. Financing was based on a 4-year interest-only term and was arranged for the borrower, Quail Park at Lynnwood, LLC, by NorthMarq through its relationship with a regional bank. “Despite the abundance of available capital in today’s market, there remains a very limited number of construction lenders for senior housing,” said Oswald. “We were pleased to find a strong regional bank for this project which is our fifth transaction for this client in the past two years.”
Meet our team
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.
