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SEATTLE — A four-property retail portfolio in Seattle has received $64 million in financing. The transaction includes acquisition financing for a 49,000-square-foot shopping center in Bellevue that is anchored by Walgreens and Trader Joe’s. It also allowed the borrower to refinance Mill Creek Town Center, a 182,000-square-foot, grocery-anchored lifestyle center in Mill Creek, as well as two retail properties in Kirkland and Bellevue.
The fully amortizing, cross-collateralized loans were arranged by Mike Taylor and Patrick Taylor of Newmark Realty Capital. The loans were placed through a relationship with one of Newmark’s correspondent life insurance companies.