Deal: Western Triangle Building

Location: Seattle, WA

Collateral: Five story, 27,405 SF office condominiums developed by the borrower in 1989.

Amount: $3,000,000

Type: Perm, Refinance (Forward)

Purpose: This loan request involved the refinance of 5 floors of commercial condominiums (office over ground floor retail) within a larger mixed-use project in downtown Seattle. The borrower wanted to lock in a long term fixed rate prior to rates rising. We arranged a loan with one of the life insurance lenders we represent, which offered an attractive forward commitment.