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JLL Facilitates $88M Construction Loan for Seattle MF Development
JLL helped facilitate the financing of Leeway, a 360-unit multifamily development project in Shoreline, Washington.
JLL supported the borrower, Evergreen Point Group, in securing a construction loan with a regional bank. JLL Capital Market’s Debt Advisory team was led by Director Steve Petrie, Senior Director Seth Heikkila, Senior Managing Director Tom Wilson and Associate Jake Davidson.
Leeway, located at 142 NE 147th St., is strategically positioned as a Transit Oriented Development just across Interstate 5 from the Shoreline South Light Rail Station. Leeway is designed as a seven-story mid-rise building with 360 residential units and approximately 3,371 square feet of ground-floor retail space.
“The successful arrangement of construction financing for Leeway highlights the continued strength of the Seattle-area multifamily market and the growing appeal of transit-oriented developments,” said Petrie. “This project’s strategic location near light rail infrastructure and its mix of market-rate and affordable housing make it an attractive investment opportunity.”
