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October 18, 2021

Create World gets $86M tower loan

By JOURNAL STAFF

BELLEVUE — Create World broke ground last week on its Mari condominium tower, at 10232 N.E. 10th St. in Bellevue. The developer typically uses EB-5 investor money for some of its project financing, but Mari is also employing a standard construction loan.

Madison Realty Capital has loaned the developer $86 million for the 20-story, 138-unit project, according to King County records. The Commercial Observer first reported the loan, which it valued at $95 million. MRC is also based in New York, and has about $6.6 billion in assets under management.


 
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