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New Res Development in Seattle Lands $42 Mil Refi Loan

12/02/21

Plus Capital Partners LLC has obtained a $42.63 mil refi loan on Shoresmith Apartments, a new, 113-unit res development in Seattle. The project, located at 1170 Republican St, also includes 1.3k sf of ground floor retail space and two levels of parking with space for 68 vehicles.

Shoresmith offers all market-rate rental units in an eight-story structure. The property is located in the heart of South Lake Union, just two blocks from Amazon’s headquarters, Google’s city campus, Seattle’s life science epicenter and Lake Union. Shoresmith boasts an extensive amenity package that includes a resident workspace, a fitness center, indoor lounge and a rooftop terrace with sweeping views of Lake Union, Queen Anne Hill and Capitol Hill.

Dave Karson, Chris Moyer, Alex Lapidus and Meredith Donovan with Cushman & Wakefield’s Equity, Debt & Structured Finance team represented Plus Capital Partners. The floating rate financing was provided by Barings Real Estate Advisors.





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