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CBRE Secures Financing for Multifamily Property in Seattle’s SLU
CBRE’s Capital Markets’ Debt & Structured Finance team in Los Angeles arranged financing for the purchase of Alley24, a 172-unit apartment community in Seattle. CBRE’s Brian Eisendrath, Brandon Smith and Cory Wizenberg arranged the reportedly $52.5 million loan on behalf of the Los Angeles-based borrower, The Jacobson Company.
The mid-rise multifamily community in the South Lake Union neighborhood has a unit mix comprised of, one and two-bedrooms apartments, modern lofts and townhomes. Amenities include a 24-hour gym, rooftop firepit lounge and valet dry cleaning. The Jacobson Co. plans to upgrade many of the units and will improve common area amenities.
Eisendrath says, “In order to provide The Jacobson Company’s investors with high going-in cash-on-cash returns, our team helped place long-term low-cost bridge financing that also provided enough in loan proceeds to accommodate a 1031-exchange.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing


