Legacy Partners Secures $107M Construction Loan For 623-Unit Mixed-Use Property In Redmond, WA
FINANCED
$107,000,000
Washington
See Similar DealsMixed-use33,000 SF
Financed 10/17/2022
FINANCED
Legacy Partners Secures $107M Construction Loan For 623-Unit Mixed-Use Property In Redmond, WA
7525 166th Avenue Northeast, Redmond, Washington 98052, United States
See Similar DealsMixed-use33,000 SF
Financed 10/17/2022
Summary
WASHINGTON
Asset Type:Mixed-use
Price Per Square Foot:$3,242
Total Square Footage:33,000 SF
Transaction Type:Loan
A construction loan of $107,000,000 has been secured for a mixed-use property located at 7525 166th Ave NE in Redmond, WA. The property spans approximately 33,000 square feet and consists of 623 units. The loan will be used for construction purposes.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $107,000,000
- Address: 7525 166th Ave NE, Redmond, WA
- Market: Redmond, WA
- Size: 33,000 square feet
- Units: 623
Legacy Partners, represented by Parker Nicholson & Lionstone Investments, acts as the landlord for this property and is involved in the loan transaction. The construction loan signifies the commitment to develop the mixed-use property and meet the needs of the market.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$107,000,000.00
Monthly NOI$713,333.33
Monthly Debt Service$676,312.79
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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