Deal: Everett Mall Office II
Location: Everett, WA
Collateral: Suburban office building with 13 tenants. 50,000 SF, 85% occupancy
Amount: $3,610,000
Type: Perm-Fixed
Purpose: The client needed to sell the property as part of a 1031 exchange and was seeking a loan with no prepayment penalty. We secured financing through one of our correspondent lenders that had no prepayment penalty, allowing the client to put their property on the market without the stress of needing to finalize the sale of their asset within a specific window of time.