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April 14, 2011

NBS Financial Services

Photo courtesy of NBS Financial Services [enlarge]
Wallingford Center was built in 1904 and is on the National Register of Historic Places.

NBS Financial Services Executive Vice President Mike Wood arranged a $4.2 million loan from Symetra Financial for Wallingford Center, a mixed-use property on North 45th Street in Wallingford. Wood said one challenge was the land is leased from the Seattle School District and some lenders avoid buildings with ground leases, but the location and the more than 90 percent occupancy made a strong case. The center was built in 1904 as Interlake Elementary and is on the National Register of Historic Places. Lorig of Seattle bought the building in 1984 and renovated it into two floors of retail and 24 studio apartments.




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