About this Property in Seattle, WA – Refinance Financing

Mixed-Use Retail Refinance Loan

Overview

Enact Partners provided refinance financing for a mixed-use retail property located in Seattle, Washington, within King County. The financing was structured to consolidate existing property and land debt into a single loan facility while supporting the property’s ongoing lease-up and stabilization.

At closing, the property had existing tenants in place, with additional leases scheduled to commence in 2026. A recent appraisal valued the property at approximately $2.9MM, with a projected stabilized value of $3.6MM as leasing activity continues and rental income increases.

Loan Structure

• Loan Amount: $1,800,000
• Loan Type: Refinance Loan
• Term: 12 months
• Interest Reserve: Built into the loan structure
• Use of Funds: Refinance existing property and land debt into a single loan facility while supporting lease stabilization and continued operational growth

The financing provided flexibility during the lease-up period while positioning the sponsor to continue improving occupancy and cash flow performance.

Seattle Market Dynamics

Seattle remains a highly active and supply-constrained urban market supported by strong population density, regional employment, and continued consumer activity. Well-located retail assets continue to benefit from tenant demand driven by accessibility, visibility, and diverse commercial use potential.

The subject property is positioned along a highly visible commercial corridor with strong traffic counts and convenient access to I-5. The location supports a broad mix of retail and service-oriented tenants, contributing to continued leasing momentum and long-term value potential.

Sponsorship

The sponsor brings meaningful experience in commercial real estate ownership and operations, with a demonstrated understanding of retail leasing and asset stabilization strategies. Their operational experience supported execution throughout the lease-up and stabilization process.

Exit Strategy and Expected Outcome

The business plan includes stabilization followed by a conventional refinance. As occupancy increases and additional leases commence, the property is expected to generate improved cash flow and stronger long-term operating performance.