Eli Osdoba Of Harborview Capital Partners Closes $9.5M Refinance Loan For Multifamily Conversion In Olympia

The asset involved in this transaction is a multifamily property consisting of 65 units located in Olympia. A loan amount of $9,500,000 was secured for the conversion of an office building into this multifamily asset. The financing was structured at 85% loan-to-cost with a rate of 2.75% over SOFR, and the loan features a 2-year term with extension options, providing a robust financial structure for the project.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $9,500,000
• Loan Type: Refinance
• Loan Terms: 2 years, 2.75% over SOFR, 85% LTC
• Units: 65
• Landlord's Representative: Eli Osdoba - Harborview Capital Partners

The key individual in this transaction is Eli Osdoba, who represents the landlord through Harborview Capital Partners, a firm specializing in commercial real estate finance, equity, and advisory services. Eli successfully facilitated the loan aimed at transforming the office space into a multifamily residential property, highlighting the firm's commitment to adaptive reuse projects in the Pacific Northwest.