Scott Wammack Of Grandview North Secures $95 Million Bridge Loan For 350-Unit Multifamily Project In Ferndale

The property asset involved in this transaction is a multifamily project located at 6276 Portal Way in Ferndale, Washington. This development includes 350 units and represents a significant investment in the local real estate market. The project is currently financed through a bridge loan of $95 million, which is intended to facilitate its completion and leasing process.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $95,000,000
• Address: 6276 Portal Way
• Market: Ferndale, WA
• Lender: Acore Capital
• Landlord: Scott Wammack - Grandview North
• Loan Type: Bridge
• Units: 350

The key individuals involved in this deal include Scott Wammack, representing Grandview North, who is overseeing the project’s development and leasing efforts. The financing provided by Acore Capital is specifically aimed at bringing the Harrington Place multifamily project to completion, allowing for the effective leasing of the new units.