Citibank Provides $110M Loan For Multifamily Property At 1942 Westlake Ave In Seattle
FINANCED
$110,000,000
Washington
See Similar DealsMultiFamily
Financed 12/13/2022
FINANCED
Citibank Provides $110M Loan For Multifamily Property At 1942 Westlake Ave In Seattle
1942 Westlake Avenue
See Similar DealsMultiFamily
Financed 12/13/2022
Summary
WASHINGTON
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 1942 Westlake Ave in Seattle, WA recently underwent a closed loan transaction. The loan, provided by Citibank, amounted to $110,000,000. The property consists of 366 units and is owned by Continental Properties & Low Tide Properties. The deal was facilitated by the brokers at Cushman & Wakefield.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $110,000,000
- Address: 1942 Westlake Ave, Seattle, WA
- Units: 366
- Lender: Citibank
- Landlord: Continental Properties & Low Tide Properties
- Brokers: Cushman & Wakefield
This transaction not only highlights the significant investment made by Citibank but also reflects the market value and potential of this multifamily property in Seattle, WA. The involvement of Continental Properties & Low Tide Properties as the landlords and Cushman & Wakefield as the brokers further emphasize the importance of this deal in the real estate market.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$110,000,000.00
Monthly NOI$733,333.33
Monthly Debt Service$695,274.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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