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Nitze-Stagen Secures $19.1M Loan From Amazon Housing Equity Fund For Trace 4001 Housing Project In Seattle

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FINANCED
$19,100,000

Washington

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Development Site
Financed 01/05/2024
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Property Image
FINANCED

Nitze-Stagen Secures $19.1M Loan From Amazon Housing Equity Fund For Trace 4001 Housing Project In Seattle

4001 South Willow Street

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Development Site
Financed 01/05/2024
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Summary

WASHINGTON
Asset Type:Development Site
Transaction Type:Loan

Nitze-Stagen has secured a $19.1 million low-interest loan from the Amazon Housing Equity Fund for its eight-story mixed-use housing project, Trace 4001. The development site is located at 4001 South Willow Street in Seattle, WA, near the Othello Link station in South Seattle.

Summary of transaction details

  • Property Type: Development Site
  • Loan Amount: $19,100,000
  • Lender: Amazon Housing Equity Fund
  • Landlord: Peter Nitze - Nitze-Stagen

The loan provided by the Amazon Housing Equity Fund will support the construction of the eight-story mixed-use housing project, Trace 4001, in South Seattle. Peter Nitze, representing Nitze-Stagen, successfully secured the low-interest loan. The project aims to provide much-needed housing options near the Othello Link station, contributing to the development of the community.

Players

Amazon
Amazon
LENDER
PN
Peter Nitze
2 deals$48.2M volume
LANDLORD

Details

FINANCED
IMAGE: Peter Nitze DATE: 01/05/2024 ADDRESS: 4001 South Willow Street MARKET: Seattle, WA ASSET TYPE: Development Site LENDER: Amazon Housing Equity Fund LANDLORD: Peter Nitze - Nitze-Stagen LOAN AMOUNT: $19,100,000 NOTE: Nitze-Stagen secured a $19.1 million low-interest loan from the Amazon Housing Equity Fund for its eight-story mixed-use housing project, Trace 4001, near the Othello Link station in South Seattle.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$19,100,000.00

Monthly NOI$127,333.33
Monthly Debt Service$120,724.99
Change in Cash Flow$0.00
Refinance Proceeds$0.00