Arrange Financing for Seattle Luxury Apartment Asset with Cushman & Wakefield

Cushman & Wakefield announced they served as exclusive advisors to a joint venture comprising affiliates of Legacy Partners and Affinius Capital in procuring financing for Maris, a 306-unit luxury apartment in Seattle, Washington.
A Cushman & Wakefield Equity, Debt & Structured Finance team represented the borrower. The team included Dave Karson (Vice Chair), Alexander Hernandez, Chris Moyer, Alex Lapidus, Paul Roeter and Meredith Donovan along with Sam Wayne from the firm’s Multifamily Capital Markets division. “Maris is an ideal asset that lenders are seeking at present – high quality multifamily property located in desirable market with strong underwriting metrics and top-rated sponsorship,” said Karson.
The floating rate loan was provided by Landesbank Hessen-Thuringen (Helaba). Additionally Maris benefits from 12 year tax exemption through Seattle’s MFTE program. Located at 4722 Fauntleroy Way SW , this seven story Built Green certified property also features 9369 square feet of ground floor retail space which is currently over 95% occupied .