Updated Oct 28, 2024
ScanlanKemperBard Secures $36M Floating-Rate Bridge Loan For Mixed-Use Property In Seattle, WA
5790 Airport Way South, Seattle, Washington 98108, United States
$36,000,000
Units
6
Asset Type
Mixed-use
Closing
Jun 21, 2022
About this deal
AI
The mixed-use property located at 5624-5790 Airport Way S in Seattle, WA has been involved in a recent closed transaction. With a size of approximately 6.5 acres, the property offers a versatile space for various uses.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $36,000,000
- Loan Type: Floating-rate bridge loan
The transaction was facilitated by JLL Capital Markets on behalf of the landlord, ScanlanKemperBard. The loan amount secured for this deal was $36,000,000, and it was classified as a floating-rate bridge loan.
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
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93