Avenue 55 And Columbia Pacific Advisors Secure $40 Million Refinance Loan For Industrial Facility In Seattle
3847 1st Avenue South
$40,000,000
Building Size
—
Asset Type
Industrial
Closing
Jan 6, 2025
AI
The asset involved in this transaction is a 210,776-square-foot industrial R&D facility located at 3847 1st Avenue in Seattle, WA. The landlord for this property is Joe Blattner, associated with Avenue 55 and Columbia Pacific Advisors, who secured a loan for refinancing purposes.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $40,000,000
- Lender: David Perlman - Thorofare Capital
- Landlord: Joe Blattner - Avenue 55 & Columbia Pacific Advisors
- Brokers: Christopher Moyer, Dave Karson, Jason Blankfein & Paul Roeter - Cushman & Wakefield
- Loan Type: Refinance
This transaction features key individuals such as David Perlman who represents Thorofare Capital as the lender, while the brokerage team from Cushman & Wakefield, consisting of Christopher Moyer, Dave Karson, Jason Blankfein, and Paul Roeter, facilitated the deal. Avenue 55 and Columbia Pacific Advisors managed the refinancing process for the property, enhancing its financial structure.
Players
Seattle Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93