|NBS Financial Services recently arranged financing on two notable deals in the Pacific Northwest. In the larger transaction, NBS Senior Vice President Wally Harding arranged a $14 mil refi for Adirondack Lodge, a 228-unit apartment community in Spokane, WA. Funding was provided by Fannie Mae through Walker & Dunlop’s Jay Thomas, a Senior Vice President in the company’s Dallas office.
Adirondack Lodge is a Class A community in the highly desirable South Hill neighborhood of Spokane. It features a community lodge, fitness center and swimming pool, and is within walking distance of a variety of retail amenities, schools and public transportation.
In the other deal, NBS’ Harding arranged a $4.7 mil refi for NTP Distribution, a 108.8k sf warehouse/distribution facility in Wilsonville, OR. The lender, StanCorp Mortgage Investors, provided a long-term, fixed-rate mortgage at a low rate.
NTP Distribution is an after-market provider of products, parts and accessories for dealers in the recreational vehicle (RV) and hitch and tow industries. The Wilsonville facility, at 27150 SW Kinsman Rd, is its national corporate headquarters and a major distribution center. Wilsonville, about 20 miles south of Portland, is a highly desirable growing location for industrial space users due to its close proximity to I-5.