**MMCC Secures $21.75M Refinance for Seattle Multifamily Property**
Marcus & Millichap Capital Corporation (MMCC) has successfully arranged $21.75 million in refinancing for Tellus on Dexter Apartments, a luxury 98-unit multifamily property located at 403 Dexter Avenue North in Seattle, Washington.
The financing was secured by Bradley Buzil, Senior Director in MMCC’s Los Angeles office, on behalf of a private client and in partnership with a California-based investment firm.
“With a maturing loan coming due, the borrower was seeking a cash-neutral refinance that offered flexibility during the initial term,” said Buzil. “This transaction was a significant achievement for the borrower and all parties involved, especially given the many complexities of the placement.”
Tellus on Dexter Apartments comprises one- and two-bedroom units and offers upscale amenities, including a fitness center, in-unit laundry, rooftop terrace with a grill, resident lounge, secure bike storage, and additional storage areas.
