Hunt Real Estate Capital Funds $5.3M in Refinancing for Multifamily Property in Metro Seattle
LYNNWOOD, WASH. — Hunt Real Estate Capital has provided a $5.3 million Freddie Mac Small Balance Loan for the refinancing of Bailey Court Townhomes in Lynnwood, a suburb 16 miles north of Seattle. The borrower was Bailey Court LLC, backed by key principal Jeffrey Butler.
Located at 17420-17415 52nd Ave. West, the multifamily property features 26 garden-style apartments spread across four three-story, townhome-style buildings. On-site amenities include a laundry room, bicycle storage area, security cameras, garages and open parking.
At the time of financing, the property was 100 percent occupied.
Jeffrey Ballaine of Hunt Real Estate Capital arranged the financing with a 30-year amortization and a yield-maintenance prepayment schedule.