Updated Dec 4, 2024
Gantry Secures $14.5M Loans For Seattle Multifamily Properties
500 Belmont Avenue East & 4801 24th Avenue Northeast
$14,500,000
Building Size
—
Asset Type
MultiFamily
Closing
May 7, 2024
About this deal
AI
The two Seattle multifamily properties, Perch and Trailside Apartments, located at 500 Belmont Avenue East & 4801 24th Avenue Northeast, have secured a $14.5 million permanent loan through Gantry. The fixed-rate debt will support these assets in the Seattle, WA market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $14,500,000
- Address: 500 Belmont Avenue East & 4801 24th Avenue Northeast
- Market: Seattle, WA
- Brokers: Colin Ceithaml & Mike Wood - Gantry
Gantry played a crucial role in securing the $14.5 million permanent loans for Perch and Trailside Apartments in Seattle. The brokers, Colin Ceithaml and Mike Wood from Gantry, facilitated the deal, ensuring a successful financial arrangement for these multifamily properties.
On the Map
$14,500,000
MultiFamily
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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
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93