Updated Oct 1, 2025
Dwight Mortgage Trust Provides $44M Bridge Loan For Multifamily Properties In Tacoma And Seattle
201 East 25th Street & 2950 South Dakota Street
$44,000,000
Units
244
Asset Type
MultiFamily
Closing
Sep 30, 2025
About this deal
AI
The asset involved in this transaction comprises two newly built multifamily properties located at 201 East 25th Street and 2950 South Dakota Street. The properties total 244 units within the Tacoma and Seattle, WA markets.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $44,000,000
- Lender: Dwight Mortgage Trust
- Loan Type: Bridge
- Units: 244
- Address: 201 East 25th Street & 2950 South Dakota Street
- Market: Tacoma & Seattle, WA
Bode of Seattle is the borrower in this transaction, utilizing the bridge loan from Dwight Mortgage Trust to retire construction debt and support the final completion of the Bode Tacoma Dome and Bode Columbia City multifamily projects, which include 164 and 80 units respectively.
On the Map
$44,000,000
MultiFamily
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Players
Tacoma 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
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93