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January 24, 2019

CBRE secures Cubix North refi

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NexGen Housing Partners developed the modular micro units.

CBRE Capital Markets' Debt & Structured Finance team said it secured long-term refinancing for Cubix North Apartments in North Seattle. It has 108 units and 3,380 square feet of commercial space. Jeff Henderson of CBRE represented Daniel Stoner of 1008 Apartments, LLC, the borrower. The $13 million loan is fixed for 10 years. Stoner said, “Building the first modular micro-apartment project west of the Mississippi has been a fun and unique opportunity.” NexGen Housing Partners developed the project at 1008 N. 109th St. NexGen focuses on affordable workforce housing in Seattle.




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