Northmarq Arranges Financing for Bellevue Apartment Community
Northmarq’s Jake Leibsohn, the senior vice president of the Seattle regional office, has secured financing for the 2nd Street Apartments, an 80-unit complex in Bellevue, WA. Angelo Gordon and Timberlane Partners recently purchased the property through a joint venture and will use the loan to support the acquisition and provide upgrades.
The planned improvements include fully renovating the unit interiors as well as update the building exteriors and enhance the common areas.
The 2nd Street Apartments are located in Bellevue’s Central Business District, and benefits from proximity to several big name employers, including Amazon, Microsoft, Facebook, Expedia and Snapchat. The asset is also situated within three blocks of two light rail stations that are scheduled to open in 2023.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.