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6/27/16
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Newmark Realty Capital Inc has arranged $40 mil in permanent financing 268-unit apartment complex in the Ballard neighborhood of Seattle.
Built in 2009, the property includes 43k sf of ground floor retail. The space consists of a 42k sf grocery store and another small retail tenant.
Newmark’s George Mitsanas and Mike Taylor arranged the fixed-rate, non-recourse financing for the borrower. The 10-year loan provides for interest only for the entire term.Newmark, who financed this property once before, will also service the loan.
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