Newmark Realty Capital Secures $21.7M in Financing for Union Bay Apartments in Seattle
SEATTLE — Newmark Realty Capital has arranged $21.7 million in financing for Union Bay Apartments in Seattle. Situated in Seattle’s South Lake Union, the seven-story building features 74 apartments in a mix of studio, one- and two-bedroom layouts, as well as ground-floor retail space.
Andy Bratt and Spencer Seibring of Newmark’s Newport Beach, Calif., office structured the 10-year term loan for the sponsor, a privately owned, Los Angeles-based development company. The lender and use of the funds were not disclosed.