Updated Oct 28, 2024
PCCP Provides $13.25M Construction Loan For Sumner, WA Multifamily Property
16017 60th Street, Sumner, Washington, United States
$13,250,000
Units
162
Asset Type
MultiFamily
Closing
Oct 25, 2022
About this deal
AI
The loan for the multifamily property located at 16017 60th Street in Sumner, WA has been finalized. The property consists of 162 units and spans across 5.7 acres.
Summary of transaction details:
- Property Type: Multifamily
- Address: 16017 60th Street, Sumner, WA
- Units: 162
- Acres: 5.7
PCCP, LLC has provided a construction loan of $13,250,000 for this project. Timberlane Partners is the landlord of the property. Jake Leibsohn from Northmarq represented the parties involved as brokers.
The multifamily loan at 16017 60th Street, Sumner, Washington, United States in Sumner, Washington financed for $13.3M in 2022. Reported inventory is 162 units across 162 units. NorthMarq appears on the loan alongside NorthMarq. This page is the Sumner, Washington file for the 16017 60th Street, Sumner, Washington, United States multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Sumner sit in the Market section below. Filter that Sumner multifamily set by closing date to see what else financed near 16017 60th Street, Sumner, Washington, United States around 2022. Published consideration for 16017 60th Street, Sumner, Washington, United States is $13.3M, dated 2022. Cite this PCCP Provides $13.25M Construction Loan For Sumner, WA Multifamily Property loan when underwriting similar multifamily product around Sumner, Washington.
On the Map
$13,250,000
MultiFamily
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Players
Sumner 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
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93