Seattle apartment complex (paid in full)

Multifamily | Seattle, WA

Refinancing of a multifamily apartment building in Seattle’s vibrant Lake City region, a family-friendly area along the shores of Lake Washington that boasts sightseeing, outdoor tourism and parks in addition to dining, arts and culture

Investment highlights

  • The 68-unit apartment building contains four retail spaces totaling 5,647 square feet and is situated on 2.43 acres in the Lake City submarket.
  • The property is conveniently located within a few blocks of public transportation, offers easy access to Route 522, and is less than 10 miles north of the University of Washington and Downtown Seattle.
  • Lake City is a bustling area with newly constructed residential and retail buildings and is home to many restaurants while still having the feel of a quiet residential neighborhood.

Location

Investment details1

Total loan size
$12,400,000
Purpose
Refinancing
LTV
76%
Date of loan
11/09/18
Year built
1968
Units
68

  • As of August 10, 2020, this loan is no longer held in FS Credit REIT’s portfolio. The borrower successfully executed on its business plan, allowing it to pay off the loan early and refinance the property with long-term debt.

Search our site