Updated Mar 26, 2026
Gantry Arranges $14.8M Refinance Loan For 76-Unit Latitude Queen Anne Apartments In Seattle
500 3rd Avenue West
$14,800,000
Units
76
Asset Type
MultiFamily
Closing
Mar 24, 2026
About this deal
AI
The asset involved in this transaction is the Latitude Queen Anne apartments, a multifamily property located at 500 3rd Avenue West, Seattle, WA. This property consists of 76 residential units and has a loan amount of $14,800,000 associated with it, reflecting the financial investment in this multifamily asset.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $14,800,000
- Loan Type: Refinance
- Loan Terms: 10-year
- Units: 76
- Market: Seattle, WA
- Brokers: Mike Wood & Tim Brown - Gantry
The refinancing loan for the Latitude Queen Anne apartments was arranged by Gantry, providing a permanent 10-year, fixed-rate, non-recourse loan with full-term interest-only payments. This structure aims to maximize cash flow for the borrower throughout the loan period.
On the Map
$14,800,000
MultiFamily
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Seattle MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.07%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93