homeWelcome, sign in or click here to subscribe.login
     


 

 

Real Estate


print  email to a friend  reprints add to mydjc  

August 1, 2024

Northmarq finds nearly $18M for SLU units

In South Lake Union, Tarragon completed its 145-unit Boxcar apartments about a decade ago. Ankrom Moisan was the architect, and Rushforth Construction the builder. Now Northmarq has announced that its Bob Spiro recently arranged an over $17.8 million refinancing package via Fannie Mae. Spiro said in a statement, “Fannie Mae continues to provide best in class apartment financing products that meet our client's needs.” The new fixed-rate loan is structured with a five-year, interest-only term with a 5.36% interest rate. Boxcar, at 975 John St. (on the corner of Terry Avenue North), is surrounded by its taller SLU brethren. It was notable for employing some modular components, including steel framing instead of the usual wood-frame method for such midrise projects.




Email or user name:
Password:
 
Forgot password? Click here.