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MMCC Arranges $22M for Seattle Multifamily Property
Marcus & Millichap Capital Corporation has arranged $21.75 million for the refinancing of Tellus on Dexter Apartments, a luxury 98-unit multifamily property located at 403 Dexter Avenue North in Seattle, Washington.
Bradley Buzil, senior director in MMCC’s Los Angeles office, secured the financing with a California-based investment firm on behalf of a private client. “With a maturing loan coming due, the borrower was seeking a cash-neutral refinance that offered flexibility during the initial term,” said Buzil. “This transaction was a significant achievement for the borrower and all parties involved, especially given the many complexities of the placement.”
The property features a mix of one- and two-bedroom units, and amenities include a fitness center, in-unit laundry, rooftop terrace with a grill, lounge, and a secure bike room and storage.
