US EditionMavik Capital Provides $180M First Mortgage for Seattle-Area Project
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Mavik Capital Provides $180M First Mortgage for Seattle-Area Project
Commercial Observer is first to report that West Edge Development has secured a $180 million first mortgage to develop Cedarside Commons, a 516-unit housing and retail complex in Stanwood, Wash., north of Seattle. Mavik Capital provided the mortgage debt, which carries a three-year term and includes a one-year extension option. The entire development will cost $229 million, with the remaining $49 million of capital made up of equity from West E…
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