
Newmark Arranges $42M for Seattle-Area MXU
Newmark arranged $42 million in permanent financing for the 107,000-square-foot Village at Sammamish Town Center, a newly-completed, ground-up development in Sammamish, WA, a city 20 miles east of Seattle. The multi-level mixed-use asset consists of 37,000 square feet of medical office space, a 35,000-square-foot Metropolitan Market, and an additional 35,000-square-foot retail center.
Newmark’s Michael Taylor, Skip Slavin and Patrick Taylor arranged the non-recourse financing on behalf of the property owner. The 14-year term, 30-year amortization was placed with one of Newmark’s correspondent lenders. Newmark will also service the loan.
Taylor says, “This was a refinance of a construction loan which we placed for the borrower. Our team kept close track of the property from initial construction through lease-up, and when the deal metrics were right for permanent financing, we were able to provide the borrower with several competitive options.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing