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1515 Bellevue Way Northeast...

Low Tide Properties & Continental Properties Refinance Multifamily Property In Bellevue, WA With $60M Loan From Northwestern Mutual
FINANCEDMultiFamily

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

Alexander Hernandez

Cushman & Wakefield

Broker

$7.7B

vol

27 deals

Broker
Northwestern Mutual
Northwestern Mutual Lender

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