The Seattle Debt + Equity division of Northmarq, led by Robert Spiro, recently closed three significant apartment refinancings totaling $66 million in the Seattle area. The largest of these deals was a $43.56-million refinance for Haven Apartments, a modern garden-style complex located in Port Orchard, WA.
Through Northmarq’s Fannie Mae DUS program, the financing was structured as interest-only. Built in 2022 and featuring one- to three-bedroom units with high-end finishes and scenic views, Haven Apartments is an attractive property for investors.
In addition to this deal, Northmarq also secured a $13.15-million refinance for Aspen Glade Apartments in Enumclaw through Fannie Mae’s Delegated underwriting program at a highly competitive rate.
Lastly,Spiro and his team arranged an $8.95-million refinance for Monticello Apartments situated at 415 Boren Ave.in Seattle.This permanent loan was obtained through Northmarq’s Fannie Mae delegated underwriting program with fixed interest rates.
Overall,the successful completion of these refinancing transactions highlights the expertise and capabilities of the Northmarq team when it comes to securing favorable financing options for multifamily properties in the Seattle market.
