Updated Oct 29, 2024
Union Labor Life Insurance Co. & Canyon Partners Real Estate Provides $109M Construction Loan For Seattle Office Property
3524 Stone Way North, Seattle, Washington 98103, United States
$109,000,000
$973,214/SF
Building Size
112 SF
Asset Type
Office
Closing
Nov 28, 2022
About this deal
AI
The loan for the property located at 3524 Stone Way North in Seattle, WA was closed on November 28, 2022. The property is an office building with a total square footage of 112,700. The lenders involved in the transaction are Union Labor Life Insurance Co. and Canyon Partners Real Estate. The loan amount for the construction project is $109,000,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $109,000,000
- Address: 3524 Stone Way North, Seattle, WA
- Market: Seattle, WA
- Asset Type: Office
- Square Footage: 112,700
- Lender: Union Labor Life Insurance Co. & Canyon Partners Real Estate
- Loan Type: Construction
The loan transaction was facilitated by the lenders, Union Labor Life Insurance Co. and Canyon Partners Real Estate. They played a key role in ensuring the financing for the construction of the office building at 3524 Stone Way North. Their expertise and financial support were crucial in making this project a reality.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93