Updated Dec 21, 2023
Northmarq Brokers Refinance $8.3M Loan For Everett Mixed-Use Property
1930 Merrill Creek Parkway, Everett, Washington 98203, United States
$8,300,000
$43/SF
Building Size
191,000 SF
Asset Type
Mixed-use
Closing
Oct 31, 2022
About this deal
AI
The property involved in this closed transaction is a mixed-use asset located at 1930 Merrill Creek Parkway in Everett, WA. It spans a total area of 191,000 square feet. The transaction took place on November 1, 2022.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $8,300,000
- Address: 1930 Merrill Creek Parkway, Everett, WA
- Market: Everett, WA
- Brokers: Scott Moline & Bob Spiro - Northmarq
- Loan Type: Refinance
- Loan Term: 10-year interest-only term
The loan amount for this transaction was $8,300,000, and it involved a refinancing arrangement. The loan term was set at a 10-year interest-only term.
Players
Everett 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
1.91%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93