SEATTLE — Norris, Beggs & Simpson Financial Services (NBS Financial) has arranged $22 million in financing for the development of Stream Dexios Apartments, located in the Westlake neighborhood of Seattle. The borrower is Stream Real Estate.
Mike Wood and Colin Ceithaml of NBS Financial secured the construction/permanent loan financing, which was structured with a 13-year term and a 30-year amortization. State Farm Life Insurance Co., a life company correspondent of NBS Financial, provided the funding.
When completed in 2019, the five-story, 80,800-square-foot property will feature 80 apartment units, 3,900 square feet of ground-floor retail space and 54 parking stalls. On-site amenities will include a rooftop deck with views of Lake Union, Capitol Hill and the Cascade Mountains.