Ethos Commercial Advisors successfully secured a total of $80 million in capital for the development of Arvon Apartments, a large multifamily property located in Vancouver, Washington. The financing package includes $48 million in construction loans and $32 million in joint venture equity from a reputable investment firm.
Led by Danny Natsch and Matt Illias, Ethos was able to secure the partial recourse construction loan with favorable terms from a national bank. This 42-month variable rate loan has an attractive sub-300 spread over SOFR and only requires 25 percent recourse obligation from guarantors.
The garden-style layout of Arvon Apartments allows for each building to be leased as it receives its certificate of occupancy. With 274 units ranging from one to three bedrooms averaging at nearly 1,000 square feet each, this development offers spacious living options for residents.
