The asset involved in this transaction is Highlander Apartments, located at 11501 15th Avenue Northeast, Seattle, WA. This multifamily property consists of 121 market-rate units and was refinanced for an acquisition amount of $16,200,000. The property was converted from an assisted living facility and operates fully leased at rents below 80% of Area Median Income (AMI). It qualified for a Fannie Mae Sponsor Dedicated Workforce Housing loan.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $16,200,000
• Units: 121
• Market: Seattle, WA
• Loan Type: Acquisition

The deal was facilitated by brokers Mike Taylor, Tim Brown, and Mike Wood from Gantry, who played a crucial role in securing the permanent loan for this transaction. Their expertise contributed to the financing aspect, specifically aimed at refinancing the acquisition and conversion of the property.