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Washington MultiFams Secure $11M Refinancing
Newpoint Real Estate Capital, LLC has provided $11 million in loans on behalf of The Management Group, Inc. to refinance two multifamily properties in southern Washington. The garden-style communities are located in Vancouver, WA and Camas, WA, both within the Portland, OR metro area.
Newpoint’s Jay Blasberg and Jarett Blasberg originated the 10-year Fannie Mae loans. “We went from application to closing in 45 days,” said Jay Blasberg in a news release. “This allowed The Management Group to lock-in historically low interest rates with three years of interest-only.”
First Street Station in Vancouver is a 70-unit complex with one- and two-bedroom units that include washers and dryers, fully equipped kitchens and a patio or balcony. River View in Camas is a 60-unit property featuring spacious living areas, updated flooring and a patio. Both communities were renovated within the past 5 years.
- ◦Financing
