BELLEVUE, WA—Ron Peterson, senior vicepresident/managing director of NorthMarq Capital'sSeattle based regional office has arranged a refinance for$27 million for 12 CentralApartments, a 204-unit garden style conventional marketmultifamily property located at 10290 NE 12th St.,Bellevue.
Financing for the transaction was structured with a 10-year termand 30-year amortization schedule and was arranged for the borrowerby NorthMarq through its seller/servicer relationship withFreddie Mac.
Freddie Mac refinanced one of their existing loans for aproperty with a 50-yard line location in Bellevue where the LTV wasvery low. Freddie locked the rate early and funded five monthslater so the borrower did not have a prepayment penalty.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
