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June 16, 2022

Northmarq secures $33M refi in Bellevue

Earlier this month, Northmarq said it had secured $33 million in refinacing for the 168-unit Gardens at Town Square, a 24-year-old midrise senior housing community in downtown Bellevue. Stuart Oswald led the effort, and said, “This is a well-run community which has maintained an excellent reputation serving the Bellevue, Washington seniors community for over two decades. It was a pleasure having an opportunity to work with the team members at ERA Living” (the latter being the owner and borrower. The lender wasn't named. Northmarq says the new money comes with a 10-year fixed-rate term, and a 30-year amortization. It replaces an old $20.4 million loan.

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