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CBRE Arranges $67M Recapitalization Loan For 235-Unit Multifamily Property In Mukilteo, WA

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FINANCED
$67,000,000
Richard (Rick) Brody
Nick Santangelo
Matt Thorp

Washington

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MultiFamily
Financed 07/12/2022
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Property Image
FINANCED

CBRE Arranges $67M Recapitalization Loan For 235-Unit Multifamily Property In Mukilteo, WA

12101 Greenhave Lane, Mukilteo, Washington 98275, United States

See Similar Deals
MultiFamily
Financed 07/12/2022
Richard (Rick) Brody
Nick Santangelo
Matt Thorp
the dealplayerscompscontact
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Summary

WASHINGTON
Asset Type:MultiFamily
Transaction Type:Loan

The property involved in the transaction is a multifamily asset located at 12101 Greenhaven Lane in Mukilteo, WA. The asset consists of 235 units. The transaction took place on July 12, 2022.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $67,000,000
  • Market: Mukilteo, WA
  • Landlord: Holland Partner Group & Principal Real Estate Investors
  • Brokers: Nick Santangelo, Matt Thorp & Rick Brody - CBRE

The loan obtained for the transaction is a recapitalization loan. The loan amount is $67,000,000. It is a five-year, floating-rate, full-term, interest-only bank loan.

Players

Nick Santangelo
CBRE
Nick Santangelo
15 deals$523.7M volume
BROKER
Matt Thorp
CBRE
Matt Thorp
1 deal$67M volume
BROKER
Richard (Rick) Brody
CBRE
Richard Brody
1 deal$67M volume
BROKER
Holland Partner Group
Holland Partner Group
LANDLORD
Principal Real Estate Investors
Principal Real Estate Investors
LANDLORD

Details

FINANCED
IMAGE: Nick Santangelo, Rick Brody & Matt Thorp DATE: 07/12/2022 ADDRESS: 12101 Greenhaven Lane MARKET: Mukilteo, WA ASSET TYPE: Multifamily ~ UNITS: 235 LANDLORD: Holland Partner Group & Principal Real Estate Investors BROKERS: Nick Santangelo, Matt Thorp & Rick Brody - CBRE LOAN AMOUNT: $67,000,000 LOAN TYPE: Recapitalization LOAN TERMS: Five-year, floating-rate, full-term, interest-only bank loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$67,000,000.00

Monthly NOI$446,666.67
Monthly Debt Service$423,485.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00