Updated Jun 6, 2025
West Edge Development Secures $180 Million Loan From Mavik Capital For Cedarside Commons Development In Stanwood WA
268th Street Northwest
$180,000,000
Units
516
Asset Type
Development Site
Closing
Jun 5, 2025
About this deal
AI
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.
On the Map
$180,000,000
Development Site
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Players
Stanwood Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93