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Bank OZK Provides $115.3M Construction Financing For Mixed-use Property At 314 Bell St, Seattle

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FINANCED
$115,250,000
Meredith Donovan
Chris Moyer
+ 1

Washington

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Financed
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FINANCED

Bank OZK Provides $115.3M Construction Financing For Mixed-use Property At 314 Bell St, Seattle

314 Bell Street, Seattle, Washington 98121, United States

See Similar Deals
Mixed-use
Financed
Meredith Donovan
Chris Moyer
+ 1
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Summary

WASHINGTON
Asset Type:Mixed-use
Transaction Type:Loan

The mixed-use property located at 314 Bell St in Seattle, WA has recently undergone a closed transaction. The property was involved in a construction financing deal, with a loan amount of $115,250,000 provided by Bank OZK. The landlord of the property is Security Properties Inc. The deal was facilitated by brokers Dave Karson, Chris Moyer, Alex Lapidus, and Meredith Donovan from Cushman & Wakefield.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $115,250,000
  • Lender: Bank OZK
  • Landlord: Security Properties Inc.
  • Brokers: Dave Karson, Chris Moyer, Alex Lapidus, and Meredith Donovan - Cushman & Wakefield

The deal involved securing construction financing for the mixed-use property. The specific details of the construction project, such as the purpose and scope, were not disclosed in the provided information.

Players

Alex Lapidus Okin
27 deals$7.6B volume(212) 841-9239
BROKER

Chris Moyer
Cushman & Wakefield
19 deals$3B volume
BROKER

Meredith Donovan
Cushman & Wakefield
17 deals$3.8B volume
BROKER

Dave Karson
Cushman & Wakefield
13 deals$1.4B volume
BROKER

LANDLORD

Details

FINANCED
IMAGE: Dave Karson, Chris Moyer, Meredith Donovan & Alex Lapidus DATE: 06/16/2022 ADDRESS: 314 Bell St MARKET: Seattle, WA ASSET TYPE: Mixed-use LENDER: Bank OZK LANDLORD: Security Properties Inc. BROKERS: Dave Karson, Chris Moyer, Alex Lapidus & Meredith Donovan - Cushman & Wakefield LOAN AMOUNT: $115,250,000 LOAN TYPE: Construction financing

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$115,250,000.00

Monthly NOI$768,333.33
Monthly Debt Service$728,458.40
Change in Cash Flow$0.00
Refinance Proceeds$0.00