Boeing Employees Credit Union Provides $53.5M Loan For Multifamily Property At 120 Broadway In Seattle
FINANCED
$53,500,000
Washington
See Similar DealsMultiFamily
Financed 04/04/2023
FINANCED
Boeing Employees Credit Union Provides $53.5M Loan For Multifamily Property At 120 Broadway In Seattle
120 Broadway
See Similar DealsMultiFamily
Financed 04/04/2023
Summary
WASHINGTON
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 120 Broadway in Seattle, WA has been involved in a recent loan transaction. The property consists of 238 units and is owned by Vulcan. The loan was provided by Boeing Employees Credit Union for a total amount of $53,500,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $53,500,000
- Units: 238
- Lender: Boeing Employees Credit Union
- Landlord: Vulcan
- Brokers: Michael Taylor & Alex Saunders - Gantry; Russ Cree - Glacier Real Estate Finance
- Date: 04/04/2023
- Market: Seattle, WA
The loan transaction was facilitated by the brokers Michael Taylor, Alex Saunders, and Russ Cree. Michael Taylor and Alex Saunders represent Gantry, while Russ Cree represents Glacier Real Estate Finance.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$53,500,000.00
Monthly NOI$356,666.67
Monthly Debt Service$338,156.39
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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