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Cushman & Wakefield Arranges Financing for New Seattle Luxury Apartment Asset
Cushman & Wakefield announced the firm served as the exclusive advisor to a joint venture comprising affiliates of Legacy Partners and Affinius Capital in the procurement of financing for Maris, a new 306-unit luxury apartment in Seattle, Washington.
A Cushman & Wakefield Equity, Debt & Structured Finance team of Dave Karson, Alexander Hernandez, Chris Moyer, Alex Lapidus, Paul Roeter, and Meredith Donovan, along with Sam Wayne of the firm’s Multifamily Capital Markets, represented the borrower.
“Maris is a prime example of what lenders are seeking at the present time—a quality multifamily asset in a desirable market, with solid underwriting metrics and a top-rated sponsorship,” said Vice Chair Dave Karson.
The floating rate loan was provided by Landesbank Hessen-Thuringen (Helaba). Maris also benefits from a 12-year tax exemption from Seattle’s MFTE program. Located at 4722 Fauntleroy Way SW, the seven-story Built Green-certified property also features 9,369 square feet of ground-floor retail space and is over 95% occupied.
