Updated May 12, 2025
Dwight Capital Closes $22.5M Refinance Loan For Skyview Heights In Airway Heights WA
12501 West 6th Avenue
$22,500,000
Units
128
Asset Type
MultiFamily
Closing
Mar 21, 2025
About this deal
AI
The asset involved in this transaction is Skyview Heights, a 128-unit garden-style apartment community located at 12501 West 6th Avenue in Airway Heights, WA. The property is categorized under the MultiFamily asset type, emphasizing its residential character in the local market.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $22,500,000
- Loan Type: Refinance
- Lender: Dwight Capital
- Broker: McBride Capital
- Market: Airway Heights, WA
- Units: 128
The refinancing loan of $22.5 million was arranged by McBride Capital, allowing the property owner to pay off existing debt, fund reserves, and secure a reduced Green MIP due to the property's GreenPoint Rated certification.
On the Map
$22,500,000
MultiFamily
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Airway Heights 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
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93