Updated Sep 24, 2025
Lument Provides $28.06M Bridge Loan To ST Renton LLC For 108-Unit Multifamily In Renton WA
2715 Sunset Lane Northeast
$28,060,600
Units
108
Asset Type
MultiFamily
Closing
Sep 19, 2025
About this deal
AI
The property involved in this transaction is Sunset Terrace, a 108-unit multifamily asset located at 2715 Sunset Lane Northeast in Renton, WA. It has a loan amount of $28,060,600, which is secured through a bridge loan structure. The financing is part of HUD 223(f) green financing, facilitating substantial leverage for the borrower.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $28,060,600
- Address: 2715 Sunset Lane Northeast
- Market: Renton, WA
- Lender: Lument
- Landlord: ST Renton LLC
- Broker: Tammy Linden - Marcus & Millichap
- Loan Type: Bridge
In this transaction, Marcus & Millichap Capital Corporation played a crucial role by arranging the financing. The loan retires a previously arranged bridge loan from 2023, emphasizing the strategic financial maneuvering by ST Renton LLC to leverage their assets effectively.
Players
Renton 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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93