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October 19, 2023
Over in Redmond, the 100-unit Trailwood recently benefited from a $14.6 million refinancing package. Northmarq's Andrew Slaton secured the Fannie Mae funding for the 46-year-old garden apartment complex. Slaton is based in San Francisco. He said in a statement, “The property had a bank loan with an unfavorable rate adjustment, and we were able to retire that with an attractive fixed-rate loan during a very volatile time in the market.” The note carries a seven-year term. Trailwood, a little northwest of downtown, last traded to a California investor group in 2005 for almost $14 million.