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November 14, 2019
Berkadia scores $77M loan for Eastside deal
The 298-unit Issaquah Terrace traded early this month for $125 million. At the time, public records indicated a loan sourced via Berkadia to the buyers, three LLCs associated with Pacific Urban Residential of Palo Alto, California. Berkadia has now announced details for the transaction. Working out of its San Francisco office, Mitch Thurston and Andy Ahlers secured $77.4 million in senior debt financing from a private multifamily investment firm. Colliers brokered the deal for the 21-building in the Issaquah Highlands on behalf of the seller, Shelter Holdings.