MIG Real Estate Acquires 104-Unit Multifamily Property In Newcastle, WA With $24M Loan

Located in Newcastle, WA, the multifamily property at 7920 110th Ave SE has recently undergone a closed transaction. The property, comprising 104 units, was acquired by an undisclosed buyer. The deal was facilitated by MIG Real Estate, who represented the landlord, along with CBRE brokers Bill Chiles, Scott Peterson, Brian Cruz, and Colby Matzke.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $24,000,000
• Loan Type: Acquisition financing
• Loan Terms: 10-year, floating-rate loan

The loan amount for the transaction was $24,000,000, and it was obtained through acquisition financing. The terms of the loan consisted of a 10-year, floating-rate agreement. This financing arrangement supported the acquisition of the 104-unit multifamily property in Newcastle, WA.