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Seattle & Northwest  + Seattle  + Finance  | 
Medford Barnes & Noble Acquisition Gets $2.6M Loan BridgeCore

Crescit Originates Bridge Loan for Tacoma Retail Property

Crescit Capital Strategies has successfully closed a $7 million fixed-rate bridge loan for the refinancing of a 35,000-square-foot retail property in Tacoma, WA. The asset has a diverse set of 15 retailers and is centrally located in Tacoma, about 30 miles southwest of Seattle.

“Crescit is pleased to partner with an owner and a repeat borrower that has a demonstrated history of acquiring assets and adding value through CapEx and leasing programs,” said Joseph Iacono, the firm’s CEO. “Our fixed-rate loan option reduced the borrower’s interest rate risk and provided an attractive alternative to traditional floating rate loans which require an interest rate cap.”

The deal represents one of several transactions that Crescit has completed in the area and follows their recent $22 million loan in Marysville, WA.

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Inside The Story

Crescit Capital StrategiesJoseph Iacono

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

  • ◦Financing