1111-E-Olive-Apts-Seattle-WA

Newmark Arranges $25.5M in Financing for Apartment Building in Seattle

by Amy Works

SEATTLE — Newmark has secured $25.5 million in financing for 1111 East Olive Apartments in Seattle. Meriwether Partners developed the property for the longtime land owners. The property features 80 apartments above ground-floor retail space, which will be occupied by a coffee shop and Richard Hugo House, a non-profit center for supporting writers. Residential amenities include a rooftop deck, conference room, gym, secured bicycle storage and parking for 69 vehicles. Michael Taylor and Patrick Taylor of Newmark’s Seattle office arranged the 15-year term financing through Aegon Real Assets US. The loan will be used to refinance the construction loan.

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