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NorthMarq Capital Secures Acquisition Financing for Seattle MF

NorthMarq Capital’s San Francisco regional office arranged $28.7 million in acquisition financing for Origin Apartments, a newly-constructed 153-unit luxury multifamily property in Seattle. The property was acquired by San Francisco Bay Area-based JB Matteson, Inc., from Summerhill Apartment Communities for $53 million.

The property was completed in 2017, and features high quality finishes and modern luxury amenities. It is located strategically between major job centers for Boeing, Amazon, University of Washington, and Microsoft at 12311 32nd Avenue NE.

NorthMarq’s Dennis Williams and Tom Wight handled the non-recourse loan, which features full-term interest-only payments and a competitive fixed rate. The lender is a correspondent life insurance company with whom NorthMarq Capital has closed several billion dollars in commercial real estate loans. NorthMarq Capital will stay involved as the servicer for the life of the loan.

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For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Financing
  • ◦Sale/Acquisition
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