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4/08/15
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Newmark Realty Capital has arranged $4.8 mil in permanent financing on an historic, multi-tenant office property located in Spokane, WA. The property is ideally located in the vibrant University District along the Spokane River near downtown.
Initially built as a brewery, the 60k sf property offers tenants a unique experience in one of the most progressive locations in the Inland Northwest. Nearby amenities include immediate access to downtown college campuses and businesses, simple ingress/egress, ample parking, sports trails, river access, and much more.
Demetri Koston and Skip Slavin, Vice Presidents for Newmark Realty Capital in Washington, worked on behalf of the borrower to arrange the loan, which has a fixed rate for its 15-year term. The non-recourse financing is based on a 25-year amortization schedule and was provided by a life insurance company.
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