August 2, 2017
Early Bird Alert: Connect Apartments is planned for September 28th in Los Angeles. Here’s where to get more information and register.
Hunt Mortgage Group partnered with Freddie Mac on the $44-million refinancing of Soma Tower Phase II, a mixed-use property located in Bellevue, WA. The high-rise Class A property includes 125-units in an 18-story building.
The borrower is Soma Towers DE LLC, a Delaware Limited Liability Company, which developed the property in 2016. The loan is backed by key principals John and Shiang Wen Su. The loan has an eight-year term.
Hunt Mortgage Group’s Jeffrey Ballaine says, “The borrower is a quality local investor that has been developing and building multifamily properties in the Puget Sound area since 1981.”
The property, on a 0.44-acre site, contains 15 stories of residential over three stories of commercial space, with 369 parking spaces in a subterranean parking garage.
The deal was brought to Hunt by DSC Capital, the firm’s correspondent brokers.
For comments, questions or concerns, please contact Dennis Kaiser