Low Tide Properties & Continental Properties Refinance Multifamily Property In Bellevue, WA With $60M Loan From Northwestern Mutual
1515 Bellevue Way Northeast, Bellevue, Washington 98004, United States
$60,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 28, 2022
AI
The multifamily property located at 1515 Bellevue Way NE in Bellevue, WA has recently undergone a loan refinance. The property consists of 184 units and is owned by Low Tide Properties and Continental Properties, LLC.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $60,000,000
- Loan Type: Refinance
The loan for this transaction was provided by Northwestern Mutual. Cushman & Wakefield represented the landlords, Low Tide Properties and Continental Properties, LLC, in the deal. The brokers involved in the transaction were Dave Karson, Alex Hernandez, Chris Moyer, Alex Lapidus, and Meredith Donovan.
Players
Bellevue 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
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93