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SEATTLE — Newmark has arranged $62 million in fixed-rate financing for 624 Yale Apartment Building in Seattle. Located in Seattle’s South Lake Union district, the two-building high-rise community features 204 studio, one-bedroom and two-bedroom units. Additionally, the property features ground-floor retail space and parking.
Brian Bonipart and Abby Kemp of Newmark’s Seattle office arranged the financing on behalf of the undisclosed borrower. The 10-year loan was placed with one of Newmark’s correspondent life insurance company lenders and was funded at receipt of Certificate of Occupancy.