West Edge Development Secures $180 Million Loan From Mavik Capital For Cedarside Commons Development In Stanwood WA

The asset involved in this transaction is a development site in Stanwood, WA, intended for a mixed-use complex. It will include a total of 516 housing units along with 27,000 square feet of retail space. The project is part of a broader development strategy with a projected total investment of $229 million.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $180,000,000
• Lender: Mavik Capital
• Landlord: West Edge Development

The deal was initiated by West Edge Development, which secured financing from Mavik Capital to support the development of Cedarside Commons. The first mortgage is critical for advancing the project within the growing Stanwood market.