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Evergreen Secures $44M Refi for Seattle-Area MF
CBRE Capital Markets’ Debt & Structured Finance secured $43.8-million in refinancing for the newly-built Cerasa Apartments, an eight-story, 154-unit, luxury multifamily building in Bellevue, WA.
CBRE’s Jeff Henderson arranged the 15-year fixed rate term on behalf of the borrower, Evergreen Point Development, LLC. The financing, provided by a correspondent life insurance company, was in the low four percent range.
Henderson says, “Not only was the rate locked months before TCO, the deal was structured to fund at TCO with limited pre-leasing.”
Located at 10961 NE 2nd Place, the 134,400 square-foot building consists of studios, one and two-bedroom apartments, as well as eight live/work lofts. The building’s downtown Bellevue location is central to the eastside’s retail core and central business district.
*Image courtesy Weber Thompson
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing


