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SEATTLE – A pair of apartment communities in Washington State has received a total of $52.7 million in refinancing. The communities include the 379-unit Riverside Park Apartments in Puyallup and the 145-unit Boxcar Apartments in Seattle.
Riverside Park is located at 3107 E. Main Ave. It received a $32-million refinance. The loan featured a 10-year term and 30-year amortization schedule.
Boxcar Apartments is located at 975 John Street. It received a $20-million refinance. The loan contained the same finance structure as the former community.
Financing was arranged by Bob Spiro and Chris Pohlad of NorthMarq Capital’s Seattle regional office through the firm’s affiliate AmeriSphere Multifamily Finance LLC, a Fannie Mae DUS lender.