Updated May 26, 2026
Rabina & New Blueprint Partners Secures $75 Million Loan For The VIC Phase 1 Project
18110 Southeast 34th Street
$75,000,000
Units
250
Asset Type
Development Site
Closing
May 15, 2026
About this deal
AI
The asset involved is a development site located at 18110 Southeast 34th Street in Vancouver, WA. The site is part of a multifamily project known as The VIC Phase 1, which includes 250 residential units. A construction loan of $75 million has been secured for the development, with vertical construction currently underway and anticipated completion scheduled for fall 2027.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $75,000,000
- Loan Type: Construction
- Landlord: Rabina & New Blueprint Partners
- Brokers: Casey Davidson & Charlie Watson - JLL
This transaction is represented by brokers Casey Davidson and Charlie Watson from JLL. The financing arrangement was orchestrated by Rabina and New Blueprint Partners to facilitate the continued development of the multifamily project in the Vancouver market.
On the Map
$75,000,000
Development Site
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Players
Market 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93