The Rex Apartments

Deal: The Rex Apartments

Location: Seattle, WA

Collateral: A two-story, 20 unit multifamily property adjacent to the Athello Light Rail station in South Seattle. The units are 1B/1BR in two connected brick buildings.

Amount: $910,000

Type: Perm-Fixed

Purpose: This involved the refinance of a 20-unit multifamily property in Seattle. The borrower needed to pull equity from the subject property in order to acquire two multifamily properties. We secured the debt for this refinance, as well as the two acquisitions, through the same lender to save on financing costs and time.