Deal: DC North A
Location: Marysville, WA
Collateral: One story, 230,977 SF NRA industrial park located on 14 acres of opportunity zone built in 2021
Amount: $26,700,000
Type: Bridge
Purpose: Originally a construction loan, the initial request involved the financing of a new industrial/warehouse development located in the Marysville/Arlington market off Interstate-5 north of Seattle. The borrower wanted a good rate and high leverage. We secured financing with a bank which offered higher than expected proceeds at a strong interest rate, alongside favorable terms such as extensions. JS Coats originated this bridge loan with a debt fund to refinance the borrower’s maturing construction loan.