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October 27, 2011

CBRE

Photo courtesy of CBRE [enlarge]
Capco Plaza has 157 apartments and a QFC.

Capco Plaza in West Seattle has closed a $38 million long-term fixed rate loan. David Stinebaugh of CBRE's Capital Markets Debt & Equity Finance arranged financing on behalf of the owners, Capelouto Development Co. and Allstate Life Insurance Co. The 8-story complex has 157 apartments and 62,800 square feet of retail anchored by QFC. It opened in 2010 and is at 4100 S.W. Alaska St. Capco is in a city's program that exempts it from some property taxes in exchange for keeping 20 percent of the units at affordable rates. Hewitt designed the project that Chinn Construction built.




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