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Geo Queen Anne Includes 20% Affordable Rates
A $47.6 million loan was recently arranged for the construction of Geo Queen Anne, a 168-unit multifamily community. Located at 2222 15th Ave. West in the Queen Anne submarket of Seattle, the six-story building is expected to be completed in early 2023. The 148,159-square-foot project will be comprised of 168 units, 20 percent of which will be qualified for affordable rates.
Bill Chiles, Scott Peterson and Morgon Fraser of CBRE’s debt and structured finance team in San Diego arranged the loan on behalf of the owner, San Diego-based AAA Management.
“Geo Queen Anne, with its immediate access to Seattle’s top amenities and major employment centers, will be an excellent addition to the Seattle market,” said Chiles.
This is the third multifamily construction loan CBRE has arranged on behalf of AAA Management in the greater Seattle area in the last three years. The total equity and debt placed is more than $130 million.
- ◦Development
- ◦Financing
