Updated Oct 28, 2024
Prime Finance Provides $7M Mezzanine Debt For Lynnwood Office Building
20816 44th Avenue West, Lynnwood, Washington 98037, United States
$7,000,000
$38/SF
Building Size
182,000 SF
Asset Type
Office
Closing
Sep 22, 2022
About this deal
AI
The office property located at 20816 44th Ave W in Lynnwood, WA has been involved in a recent loan transaction. The property spans across 182,000 square feet, showcasing its ample space for commercial activities. The lender behind this transaction is Prime Finance, who provided a mezzanine debt loan of $7,000,000 to support the involved parties.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $7,000,000
- Address: 20816 44th Ave W, Lynnwood, WA
- Market: Lynnwood, WA
- Asset Type: Office
- Square Footage: 182,000
Pearlmark represented by Bill Swackhamer served as the landlord during this transaction. It is crucial to highlight the instrumental role played by the lenders and landlords in facilitating such deals, ensuring a smooth and successful process for all parties involved.
On the Map
$7,000,000
$38/SF
Office
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Players
Lynnwood Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93