NewPoint Real Estate Capital Provides $86.6M Acquisition Loan for Alcove at Seahurst Multifamily Community Near Seattle

BURIEN, WASH. — NewPoint Real Estate Capital has provided an $86.6 million Freddie Mac floating-rate loan to facilitate the purchase of Alcove at Seahurst on behalf of an affiliate of Harbor Group International.

Constructed in 1948, the garden-style Alcove at Seahurst features 44 residential buildings spread across 36 acres at 14001 Ambaum Blvd. SW. The community features 543 units in a mix of one-, two- and three-bedroom apartments with fully equipped kitchens, washers/dryers and architectural built-ins. Community amenities include a playground, coffee bar, fitness center, business lounge and grilling and picnic areas.

The seven-year Freddie Mac loan features an interest-only period of five years, providing Harbor with the flexibility to execute a value-add renovation.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

Subscribe to the newsletter

Webinars on Demand

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties