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May 15, 2014

Bridge financing for 954 E. Union

Louis Weisman of Berkadia Commercial Mortgage and Tim Ufkes of Hendricks-Berkadia closed $14.7 million in bridge financing for a six-story, 79-unit apartment building now under construction at 954 E. Union St. on Capitol Hill. The developer, Seawest Investment Associates, is using the money to finance construction. The building is one block from the Seattle Streetcar line, which is scheduled to open later this year. Berkadia Commercial mortgage provides acquisition, construction and refinance loans for real estate properties and manages a portfolio of more than $229 billion.




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