Deal: Lonestar Building

Location: Seattle, WA

Collateral: The collateral consists of a 57,459 square foot, concrete tilt-up, multitenant industrial building sitting on 2.55 acres.

Amount: $2,400,000

Type: Perm-Fixed, Acquisition

Purpose: This loan request involved the financing of an existing multitenant industrial building located along the Duwamish River in the Georgetown neighborhood of Seattle. As part of the transaction, the borrower had seller financing which was paid off when the loan was funded a couple of months after the acquisition of the property. We brought in a bank which offered very competitive terms.