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SEATTLE — Strata Equity Group has received $100 million in acquisition financing for a multifamily portfolio in Seattle. The portfolio contains a total of 1,041 units.
The portfolio features five properties that were built between 1986 and 1991. Strata plans to execute a capital improvement program that will upgrade the residential amenities and interior unit finishes.
Four of the properties are within five miles of Boeing’s Everett Factory, the region’s largest employer, which is undergoing a large expansion. The other property is in Lynwood, 16 miles north of downtown Seattle.
The 10-year loan features full-term, interest-only payments through Freddie Mac. CBRE’s Bill Chiles, Scott Peterson and Brian Cruz arranged the financing.