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Seattle & Northwest  + Seattle  + Finance  | 

Greystone Provides $14M for Seniors Housing Property in Seattle

Greystone delivered a $13.9 million HUD-insured loan to refinance The Savoy at Lake City Senior Living, an 80-unit seniors housing property in Seattle. The transaction was originated by Greystone’s Shana Daby and Lorie Hanson on behalf of Lake City Project Associates, LLC.

Constructed in 2017, property is a four-story apartment building at 13730 Lake City Way NE in North Seattle. The one- and two-bedroom apartments feature high ceilings, modern appliances and upgraded finishes, as well as in-unit laundry. Residents enjoy access to a community room and entertainment center, fitness center, on-site parking and outdoor amenities that include a rooftop patio firepit and picnic area, gazebo and community gardens.

The non-recourse HUD 223 (a)(7) loan refinances the property at a low, fixed rate and 40-year term and amortization, resulting in a significant reduction in annual debt service payments. As green certified and energy efficient housing, the property also qualifies for a reduction in Mortgage Insurance Premium (MIP) of 40 basis points, from 65 to 25 basis points, annually.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
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