Multifamily Portfolio in Washington Receives $19.4M

by Nellie Day

OLYMPIA AND LYNWOOD, WASH. – A two-property multifamily portfolio in Washington has received $19.4 million in financing. The portfolio includes the 181-unit Westlakes Apartments in Olympia and the 110-unit Poplar Lanes Apartments in Lynnwood. The 12-year loan featured a 30-year amortization schedule, a 75 percent loan to value and a sub-4 percent interest rate. Financing was arranged by Mike Wood and Austin Johnson of NBS Financial Services. The loan was provided by Fannie Mae through the firm’s correspondent relationship with Walker Dunlop.

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