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Lakewood Building –
Lakewood, WA
$7,145,000
INTERVEST provided
construction and standby
permanent financing for
this proposed office
building in Lakewood,
Washington. The property
was 50% pre-leased to
the State of Washington,
and we were able to
approve and fund the
loan with only 50%
pre-leasing because of
our prior experience
with the borrower. |
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DBP Office – Palm
Desert, CA
$6,950,000
Our lender provided
fixed rate financing at
5.8% over a 30-year
amortization for a
two-building office
complex consisting of
43,000 square feet. This
Class A project has high
visibility at a
signalized intersection
near I-10 and Washington
Street in Palm Desert. |
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University
Village – Seattle,
WA
$4,350,000
An INTERVEST
construction loan
with long term
borrowers for a
three-story pad
building in front of
an Albertson’s
center at a key
intersection with
plenty of exposure.
Our existing
permanent lender on
the anchored center
is keen on financing
the subject upon
lease-up and will
likely provide
favorable terms.
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Sumner Plains
Building F – Sumner,
WA
$1,800,000
INTERVEST had
provided a
construction loan to
build six flex
industrial
buildings. The loan
structure included
release provisions
to sell several of
the buildings. A new
permanent loan
enables the client
to roll a portion of
the debt off of the
higher interest rate
construction loan
and retain the
property in their
portfolio.
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Westlake Heights Apartments - Seattle WA
$8,000,000
Our life company lender funded this permanent loan at issuance of the certificate of occupancy with a largely vacant building. This very well located property with lake views obtained a 10-year fixed rate in the mid-5% range. |
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South Meridian Retail - Puyallup WA
$6,950,000
This well located retail property consisting of retail, office, car wash and espresso structure was placed with one of our life insurance companies. This 61% LTV property was provided with a 21-year term and a thirty year amortization at 5.875%. |
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Bear Creek Plaza - Woodinville WA
$3,370,000
This life company loan represents a collateral substitution for a loan with less than five years remaining. This enabled our clients to sell an office building and, within a six-month time period, purchase this industrial property. Our lender pre-approved the collateral substitution, allowing our client to avoid a significant prepayment charge. |
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Lairds Plastics - Seattle WA
$2,675,000
This loan was for the purchase of a 36,000 square foot industrial distribution facility in South Seattle’s close-in industrial market. The subject property is master leased to one tenant with under-market rents. Debt service on the funded loan was very tight but our lender understood the upside potential in the transaction. The new owner will be raising rents when the existing master lease renews at market rents within several years. |
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Western Triangle - Seattle WA
$3,000,000
The collateral for this loan consists of commercial condominiums under residential condominiums. Once our correspondent life company was able to get comfortable with the condominium documentation, they issued a very competitive quote. |
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Allenmore - Tacoma WA
$15,200,000
A portfolio construction loan that INTERVEST completed while simultaneously arranging an 18-month forward take-out permanent loan from one of its correspondent life companies.
Our borrower was able to fix the rate on the $15,200,000 15-year fixed rate loan at construction commencement. |
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Group Health Building - Kennewick WA
$1,900,000
This loan was part of a small portfolio of loans that was refinanced with one of our correspondent life companies. The building is leased to a non-investment grade, single tenant in a tertiary market with potential rollover risk during the loan term. The sponsors' strong financials and track record helped mitigate the rollover risk. |
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CEG Building - Scottsdale AZ
$9,500,000
An INTERVEST bridge loan for a 35,000 square foot, Class A office building and two acres of adjacent, entitled land in Perimeter Office Park in North Scottsdale. Our Seattle-based borrowers purchased a majority interest in the property and will bring professional management and leasing to the existing property. |
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Holiday Inn - Spokane WA
$5,000,000
This hotel loan was part of a four-property portfolio that was refinanced with one of our life companies. The portfolio included two non-investment grade, single-tenant properties, one of which is located in Kennewick, Washington. |
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North Benson Center - Renton WA
$14,450,000
Our client sought maximum leverage to acquire this Fred Meyer shadow-anchored shopping center in Renton. In these challenging times, we were still able to finance 85% of the buyer’s acquisition cost, primarily because of the immediate upside in the property. |
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Pikes Peak - Bellevue WA
$5,800,000
A low LTV refinance taking advantage of low interest rates. We placed financing with one of our life insurance companies on a 15-year term indexed to the 10-year T-Bill, with a 30-year amortization. The rate was fixed at application. |
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Old Towne Plaza - Tumwater WA
$13,750,000
We funded this bridge loan on a 66,360 square foot, mixed-use retail/office property, replacing the original construction loan and providing additional time to lease up the property. About 20% was leased at the time of funding. A very good location and strong sponsorship. |
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Retail/Office Portfolio - Eugene OR
$4,725,000
A 10-year, fixed rate loan for a portfolio of five properties in downtown Eugene. The properties were all located within a three-block radius and were largely adaptive re-use for service retail and office uses. |
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Federal Way Crossings - Federal Way WA
$50,000,000
This prominent, new retail center was funded by one of our lenders in two phases, as leasing progressed. An earn-out was structured for the residual un-leased space remaining at closing. |
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Duvall Commons - Duvall WA
$4,000,000
A newly constructed retail center within a trade area with excellent demographics. At funding the center remained roughly 20% vacant. This portfolio lender allowed for an additional $900,000 earn-out within one year upon leasing of the additional spaces. The lender also allowed the borrower to re-lock the rate after Treasury yields had fallen 25 basis points. |
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507 Northgate - Seattle WA
$44,000,000
Our client sought both financing and an equity partner for a proposed mixed-use development. We arranged both a fixed interest rate loan and equity infusion with one of the life companies we represent. The term was for 12 years, which includes a two-year construction loan. |
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