Mezzanine Loan Closed in 12 Days
Issaquah Town Center
Project Description
Broadmark (NYSE: BRMK) provides $10.0M in mezzanine financing for the recent acquisition of the Town & Country Square retail shopping center in Issaquah, WA. Due to the complex structure and fast timing required for this investment opportunity (12 days from term sheet to close), the borrower engaged Broadmark to provide financing for this landmark redevelopment project.
The 16-acre shopping center is located in the center of Issaquah’s long-term zoning and development plan. The mezzanine loan structure provides the borrower with a balance sheet lending option with the flexibility to meet their ultimate vision for the property. The property is 100% occupied and sits alongside Interstate 90 across from Costco’s new corporate headquarters.
Loan Details
Issaquah, WA
August 2022
$9,960,000
Contact Information
Thatcher Milholland, Washington
Douglas Swafford, Oregon & SW Washington
Mike Incrocci, Western Region
Bryan Graf, (NMLS ID 1438299), Western Region
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