Silverstein Capital Partners Provides $700M Loan For Bellevue Mixed-Use Development
814 102nd Ave NE, Bellevue, WA, USA
$700,000,000
$636/SF
Building Size
1,100,000 SF
Asset Type
Mixed-use
Closing
Apr 20, 2021
AI
Located at 814 102nd Ave. NE in Bellevue, Washington, this mixed-use property recently closed a significant deal. The transaction involved a loan amount of $700,000,000, making it a substantial investment. The property spans an impressive 1,100,000 square feet and includes 365 units, showcasing its expansive nature. The property's address in the thriving market of Bellevue adds to its appeal and potential.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $700,000,000
- Square Footage: 1,100,000
- Number of Units: 365
- Market: Bellevue, Washington
The loan for this transaction was provided by Silverstein Capital Partners, with Marty Burger representing the lending company. Andy Lakha, the landlord from Fortress Development, facilitated the deal. Acting as brokers in this transaction were Dave Karson, Chris Moyer, and Emily Johansen from Cushman & Wakefield. Their expertise and involvement were instrumental in navigating this substantial deal.
Players
Bellevue 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
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93