First mortgage financing for The Palisades, a 192-residence
apartment property in Bellevue, Wash., has been put in place, and
with perfect timing. Acting on behalf of the borrower, NorthMarq
Capital Inc. secured the financing--based on a 10-year fixed-term
with a one-year floating option and a 30-year amortization
schedule--through its seller-service relationship with Freddie Mac
just days before the U.S. Department of the Treasury grabbed the
reigns at troubled Freddie Mac and Fannie Mae. Built in 1969 and
most recently renovated in 2006, The Palisades is located at 13808
NE 12th St., less than 15 miles east of Seattle.
Freddie Mac Financing Locked In for 192-Unit Seattle-Area M-F
Oct 7, 2008, ET
First mortgage financing for The Palisades, a 192-residence apartment property in Bellevue, Wash., has been put in place, and with perfect timing. Acting on behalf of the borrower, NorthMarq Capital Inc. secured the financing--based on a 10-year fixed-term with a one-year floating option and a 30-year amortization schedule--through its seller-service relationship with Freddie Mac just days before the U.S. Department of the Treasury grabbed the reigns at troubled Freddie Mac and Fannie Mae. Built in 1969 and most recently renovated in 2006, The Palisades is located at 13808 NE 12th St., less than 15 miles east of Seattle.
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