Source: REBusinessOnline

BH Properties: BH Properties Receives $3M Bridge Loan for Acquisition of Olympic Block Mixed-Use Complex in Seattle

SEATTLE - Gantry has arranged a $3 million bridge loan to finance the acquisition and repositioning of Olympic Block, a downtown Seattle mixed-use complex. The borrower is BH Properties. Located at 101 Yesler Way, the 75,000-square-foot property offers creative office space and ground-floor retail space. Acquired through a deed in lieu of foreclosure, the financing was based on a reset 2024 valuation, recognizing current vacancy and related cash flow challenges. Mark Ritchie and Alicia Sabanero of Gantry secured the three-year, fixed-rate loan through one of Gantry's correspondent insurance company lenders. The financing features interest-only payments for the entirety of its duration.The post BH Properties Receives $3M Bridge Loan for Acquisition of Olympic Block Mixed-Use Complex in Seattle appeared first on REBusinessOnline.

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Est. Annual Revenue
$5.0-25M
Est. Employees
25-100
Steve Gozini's photo - Chairman & CEO of BH Properties

Chairman & CEO

Steve Gozini

CEO Approval Rating

- -/100