facebook
Traded Co logo
Submit
Daily limit: 0/10

Bascom Group Acquires 92-Unit 2300 Elliott Apartment Property In Seattle For $29.4M With $24M Loan

Property Image
FINANCED
$24,000,000

Washington

See Similar Deals
MultiFamily
Financed 12/17/2024
the dealplayerscompscontact
Property Image
FINANCED

Bascom Group Acquires 92-Unit 2300 Elliott Apartment Property In Seattle For $29.4M With $24M Loan

2300 Elliott Avenue

See Similar Deals
MultiFamily
Financed 12/17/2024
the dealplayerscompscontact
Contact now

Summary

WASHINGTON
Asset Type:MultiFamily
Transaction Type:Loan

The 2300 Elliott apartment property located at 2300 Elliott Avenue in Seattle, WA, is a multifamily asset comprising 92 units. The property was acquired for $29.4 million from Equity Residential and includes studio to two-bedroom units with rents starting at $1,564. It offers amenities such as a fitness center and a rooftop terrace.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $29,400,000
  • Lender: BrightSpire Capital
  • Landlord: Bascom Group
  • Loan Amount: $24,000,000
  • Loan Type: Acquisition

BrightSpire Capital provided financing for Bascom Group's acquisition, contributing to the successful transfer of the property into their portfolio. This transaction highlights the collaboration between the two entities in securing the financing needed for this multifamily investment.

Players

BrightSpire Capital
BrightSpire Capital
LENDER

Details

FINANCED
IMAGE: 12/17/2024 ADDRESS: 2300 Elliott Avenue MARKET: Seattle, WA ASSET TYPE: MultiFamily ~ UNITS: 92 LENDER: BrightSpire Capital LANDLORD: Bascom Group LOAN AMOUNT: $24,000,000 LOAN TYPE: Acquisition NOTE: BrightSpire Capital provided $24 million in financing for Bascom Group's $29.4 million purchase of the 92-unit 2300 Elliott apartment property in Seattle. The property, acquired from Equity Residential, features studio to two-bedroom units with rents starting at $1,564, and includes amenities like a fitness center and rooftop terrace.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$24,000,000.00

Monthly NOI$160,000.00
Monthly Debt Service$151,696.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00