$3.49M & $3.41M Perm Loans;

 

Property:

Two apartment buildings totaling 27 units

Location:

Seattle, WA

Financing:

HRC arranged $6.9M of permanent financing with a local credit union at a rate in the mid 3% range. The loans were structured as 3 year terms with 30 years of amortization. The borrower demanded max loan proceeds at a low rate to free up equity for an apartment development project.