Seattle & Northwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
CapitalSource Delivers Construction Financing for Seattle Student Housing Dev
CapitalSource, a division of Pacific Western Bank, provided a $63.85 million construction loan to finance Fields Holdings, LLC’s development of a new student housing property located in Seattle’s University District. The M is planned as a high-rise 24-story student housing property with a total of 230-units and 464 beds.
CapitalSource’s Jason Baker says, “The M will be the first high-rise in Seattle’s University District in over 40 years.”
The unit mix is made up of studios, one, two, three and four-bedrooms apartments. None of the bedrooms will be double occupancy, allowing privacy for each student. Located on a 0.38-acre parcel at 4700 Brooklyn Ave., the property also has roughly 4,350 square feet of ground floor retail space.
In addition to the senior loan provided by CapitalSource, The M will be financed with a $27.5 million EB-5 mezzanine loan provided by CMB Regional Centers.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development

