Bank OZK Provides $115.3M Construction Financing For Mixed-use Property At 314 Bell St, Seattle
314 Bell Street, Seattle, Washington 98121, United States
$115,250,000
Building Size
—
Asset Type
Mixed-use
Closing
Jun 15, 2022
AI
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
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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93