Updated Oct 28, 2024
Madison Realty Capital Provides $32M Loan For Mixed-Use Property In Seattle
1208 Pine Street, Seattle, Washington 98101, United States
$32,000,000
Units
96
Asset Type
Mixed-use
Closing
Oct 12, 2022
About this deal
AI
Located at 1208 Pine Street in Seattle, WA, this mixed-use property is the subject of a recent closed transaction. The property consists of 95 units and is owned by Vibrant Cities, represented by Ming Fung.
Summary of transaction details
- Property Type: Mixed-use
- Loan Amount: $32,000,000
- Lender: Madison Realty Capital - Josh Zegen
- Landlord: Vibrant Cities - Ming Fung
The loan for this transaction was provided by Madison Realty Capital, with Josh Zegen leading the deal. The loan amount was $32,000,000. The property's landlord, Vibrant Cities, was represented by Ming Fung.
Players
Seattle Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93