JLL Arranges $19M Refinancing for Bothell Apartment Complex
JLL has arranged $19 million in financing for The 104, a 115-unit urban-style apartment community in Bothell, Washington.
JLL worked on behalf of the borrower, MainStreet Property Group LLC, to secure the five-year, fixed-rate loan through Fannie Mae. The loan will be serviced by JLL Real Estate Capital, LLC. The JLL Capital Markets Debt Advisory team was led by Senior Director Seth Heikkila and Associate Bill Maloney.
The 104 features a mix of traditional and open one- and two-bedroom floor plans. Located at 18414 104th Ave. NE, the property is situated minutes from I-405 and SR-522 in close proximity to major employers in nearby Kirkland, Redmond and Bellevue.
“The 104 exemplifies the high-quality multifamily product that continues to attract strong interest in Seattle’s Eastside markets,” Heikkila said. “We expect sustained rental demand in Bothell driven by its strategic location and access to the region’s expanding tech job centers.”
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout