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3847 1st Avenue South

Avenue 55 And Columbia Pacific Advisors Secure $40 Million Refinance Loan For Industrial Facility In Seattle
FINANCEDIndustrial

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:

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

Chris Moyer

Cushman & Wakefield

Broker

$3.2B

vol

21 deals

Broker
Thorofare Capital
Thorofare CapitalLender

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