Marcus & Millichap Capital Corporation Arranges $21.75M Refinance For 98-Unit Multifamily In Seattle
403 Dexter Avenue North
$21,750,000
Building Size
—
Asset Type
MultiFamily
Closing
Apr 14, 2025
AI
The asset involved in this transaction is a multifamily property located at 403 Dexter Avenue North in Seattle, WA. The property comprises 98 residential units and is characterized as a luxury apartment building. The refinance loan amount for this asset is $21,750,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $21,750,000
- Units: 98
- Address: 403 Dexter Avenue North
- Market: Seattle, WA
- Loan Type: Refinance
Bradley Buzil from Marcus & Millichap represents Tellus in this refinance transaction. The financing was arranged by Marcus & Millichap Capital Corporation, reflecting their involvement in structured loan services for this multifamily asset.
Players
Seattle 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
0.73%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93