The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
February 25, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



FINANCING NEWS
Printer-friendly Version   Email an Associate
Student Housing Project at Washington Community College Lands $32 Mil Refi

8/17/21

A newly completed, privately-built, off-campus student housing mixed-use project adjacent to Edmonds College, a community college in Lynnwood, WA, was just refinanced with a new loan for $32.5 mil. The financing was arranged by Gantry.

The project, Triton Court, features 104 units with 220 total beds of multifamily housing serving students. The property includes 13.3k sf of ground floor retail space and an additional 15.3k sf of office space on its second floor. The property is the result of a quasi-public/private partnership, wherein a private developer built and owns the complex managed and programmed by Edmonds College’s Housing and Residence Life office.

Gantry’s Mike Wood and Alex Saunders arranged the deal for the borrower, a privately held LLC. The loan was placed with a debt fund and offers a competitive interest rate with payments on an interest-only basis for the entire loan term.

According to Wood, the transaction entailed retiring maturing construction debt with a refi structure and rate reflecting the quality of the property, its strong fundamentals and legacy potential. The project was built to serve the long-term needs of Edmonds College students by providing a campus-adjacent housing environment programmed for scholastic collaboration, community building and student safety.





Return to the Archive page


 
 
 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media