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900 Rainier Avenue South

Updated Oct 29, 2024

O.Z. Navigator Secures $112M Construction Loan For Multifamily In Seattle
FINANCEDMultiFamily

O.Z. Navigator Secures $112M Construction Loan For Multifamily In Seattle

900 Rainier Avenue South

$112,000,000

Building Size

—

Asset Type

MultiFamily

Closing

Jan 20, 2023

About this deal

AI

The multifamily property located at 900 Rainier Ave S in Seattle, WA has been involved in a recent loan transaction. The loan, which was for a construction project, was provided by O.Z. Navigator. The loan amount was $112,000,000, and the transaction was facilitated by Northmarq, acting as the brokers.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $112,000,000
  • Address: 900 Rainier Ave S, Seattle, WA
  • Market: Seattle, WA
  • Landlord: O.Z. Navigator
  • Brokers: Northmarq
  • Loan Type: Construction

O.Z. Navigator, as the landlord, played a key role in securing the loan for the construction project. Northmarq acted as the brokers in the transaction, representing the interests of the parties involved. Through their collaboration, the loan was successfully obtained, allowing for the development of the multifamily property at 900 Rainier Ave S.

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$112,000,000

MultiFamily

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Players

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O.Z. NavigatorLandlord

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

0.14%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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