Northmarq, a Minnesota-based company, recently arranged the refinancing for Trailwood Apartments in Redmond, Washington. The 100-unit multifamily community was successfully secured with a $14.6 million refinance by Andrew Slaton, senior vice president and senior director at Northmarq’s San Francisco Debt + Equity office through their in-house Fannie Mae DUS team. This seven-year term transaction was structured by Slaton.
According to Slaton, they received positive feedback from various lenders including banks and life companies but ultimately chose their Fannie platform due to its competitive rate and loan proceeds along with an interest-only period. He further added that during a volatile market time they were able to replace the existing bank loan with an attractive fixed-rate loan.
Built in 1977, Trailwood Apartments offers one-bedroom (20 units), two-bedroom (46 units) and three-bedroom (34 units) options within its garden-style community located at 8501 Willows Road NE approximately 16 miles east of Seattle.
