Evergreen Point Group Secures $88 Million Construction Loan For 360-Unit Multifamily Development In Shoreline

A construction loan of $88,000,000 was secured for Leeway, a multifamily development comprising 360 units located at 142 Northeast 147th Street in Shoreline, Washington. The development includes a seven-story structure with 3,371 sq. ft. dedicated to ground-floor retail, situated in the Shoreline market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $88,000,000
• Loan Type: Construction
• Units: 360
• Address: 142 Northeast 147th Street
• Market: Shoreline, WA
• Landlord: Evergreen Point Group
• Brokerage: JLL
• Brokers Involved: Steve Petrie, Seth Heikkila, Tom Wilson & Jake Davidson

JLL played a pivotal role in facilitating the construction loan for Evergreen Point Group, representing them in their dealings with a regional bank to support the development project.