Updated Jul 17, 2025
PGIM Real Estate Provides $71.77M Loan For Carmel Partners' 227-Unit Multifamily In Seattle
1100 Boylston Avenue
$71,770,000
Units
227
Asset Type
MultiFamily
Closing
Mar 28, 2025
About this deal
AI
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.
On the Map
$71,770,000
MultiFamily
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Players
Seattle MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93