October 19, 2023

Northmarq Facilitates $14M Refinancing for Trailwood in Redmond

On October 19, 2023, Northmarq successfully arranged a $14.6 million refinancing package for Trailwood, a 100-unit garden apartment complex located in Redmond. The financing was secured by Andrew Slaton, a representative of Northmarq based in San Francisco, through Fannie Mae. This solution was provided to address the unfavorable rate adjustment associated with a bank loan held by the property. The refinancing was particularly significant as it occurred during a highly volatile period in the market.

With the assistance of the AI legalese decoder, the process of evaluating and negotiating the refinancing terms was streamlined and made more efficient. The AI legalese decoder is an advanced artificial intelligence tool specifically designed for legal and financial professionals to analyze complex loan contracts and agreements. By utilizing this technology, Northmarq was able to quickly identify the terms of the existing loan and compare them to the available options in order to secure an attractive fixed-rate loan.

The new loan obtained through the refinancing has a seven-year term, providing Trailwood with a stable financial arrangement over the coming years. Situated northwest of downtown Redmond, Trailwood has been a valuable asset in the real estate market since it was acquired by a California investor group in 2005 for approximately $14 million.