Silverstein Capital Partners Provides $700M Loan For Bellevue Mixed-Use Development
FINANCED
$700,000,000
Washington
See Similar DealsMixed-use1,100,000 SF
Financed 04/21/2021
FINANCED
Silverstein Capital Partners Provides $700M Loan For Bellevue Mixed-Use Development
814 102nd Ave NE, Bellevue, WA, USA
See Similar DealsMixed-use1,100,000 SF
Financed 04/21/2021
Summary
WASHINGTON
Asset Type:Mixed-use
Price Per Square Foot:$636
Total Square Footage:1,100,000 SF
Transaction Type:Loan
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
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$700,000,000.00
Monthly NOI$4,666,666.67
Monthly Debt Service$4,424,476.16
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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