Deal: Core 83 Apartments

Location: Redmond, WA

Collateral: 120-unit multifamily building with state-of-the-art amenities and subterranean parking. The property has a small affordable housing component as well.

Amount: $21,800,000

Type:  Perm-Fixed, Take-Out

Purpose: The borrower was looking to pay off their construction loan prior to substantial completion and stabilization of the project. One of our life companies funded upon completion with a minor leasing requirement.