Eli Osdoba Of Harborview Capital Partners Closes $9.5M Refinance Loan For Multifamily Conversion In Olympia
$9,500,000
Units
65
Asset Type
MultiFamily
Closing
Oct 30, 2025
AI
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.
Players
Market 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
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93