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PGIM Real Estate Provides $71.77M Loan For Carmel Partners' 227-Unit Multifamily In Seattle

Property Image
FINANCED
$71,770,000

Washington

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MultiFamily
Financed 03/28/2025
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Property Image
FINANCED

PGIM Real Estate Provides $71.77M Loan For Carmel Partners' 227-Unit Multifamily In Seattle

1100 Boylston Avenue

See Similar Deals
MultiFamily
Financed 03/28/2025
the dealplayerscompscontact
Contact now

Summary

WASHINGTON
Asset Type:MultiFamily
Transaction Type:Loan

The Victor is a multifamily apartment property located at 1100 Boylston Avenue in Seattle, WA, featuring 227 units. The property was developed by Carmel Partners and is part of the First Hill neighborhood.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $71,770,000
  • Lender: PGIM Real Estate
  • Landlord: Carmel Partners
  • Loan Amount: $71,770,000
  • Loan Date: 03/28/2025

PGIM Real Estate facilitated the financing for The Victor, offering Fannie Mae financing to support the development efforts of Carmel Partners in the transaction.

Players

PGIM
PGIM
LENDER
Carmel Partners
Carmel Partners
LANDLORD

Details

FINANCED
IMAGE: 03/28/2025 ADDRESS: 1100 Boylston Avenue MARKET: Seattle, WA ASSET TYPE: Multifamily ~ UNITS: 227 LENDER: PGIM Real Estate LANDLORD: Carmel Partners LOAN AMOUNT: $71,770,000 NOTE: PGIM Real Estate provided $71.77M in Fannie Mae financing for The Victor, a 227-unit apartment property at 1100 Boylston Ave. in Seattle’s First Hill neighborhood, developed by Carmel Partners.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$71,770,000.00

Monthly NOI$478,466.67
Monthly Debt Service$453,635.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00