Principal Life Insurance Co Provides $66.2M Construction Loan For Woodinville Multifamily

The multifamily property located at 13300 NE 175th St in Woodinville, WA has been involved in a recent loan transaction. On March 29, 2023, a construction loan in the amount of $66,200,000 was granted by Principal Life Insurance Co. The loan was facilitated by Institutional Property Advisors, who acted as the broker in this deal. The property comprises 207 units, making it an attractive investment opportunity in the Woodinville market.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $66,200,000
• Address: 13300 NE 175th St, Woodinville, WA
• Market: Woodinville, WA
• Units: 207
• Lender: Principal Life Insurance Co
• Broker: Institutional Property Advisors
• Loan Type: Construction

This loan transaction involves the collaboration of Principal Life Insurance Co as the lender and Institutional Property Advisors as the broker. Their expertise in the industry has facilitated the financing of this multifamily property, ensuring a successful construction loan. This deal could potentially contribute to the development of the Woodinville real estate market, benefiting both investors and the local community.