As seen in RE Business OnlineSEATTLE — Essex Financial Group has arranged a $75 million permanent loan for Menashe Properties to refinance Medical Dental Building, an infill medical office building in downtown Seattle. The sponsor purchased the 297,470-square-foot historic building in 2019 and assumed existing debt on the property.The seven-year loan features a fixed interest rate with three years essaysservicesreviews.com of interest-only payments followed by a 30-year amortization. Alex Riggs and Blaire Butler of Essex Capital Markets secured the financing for the borrower.Originally built in 1924, the 18-story office building has undergone several renovations with...

This article appeared in the Colorado Real Estate Journal's August 18th Publication LINK As we enter the second half of the year, the debt and equity markets continue to be very active, albeit with some lingering areas of caution brought about by the pandemic. Below are some key takeaways through the first half of 2021. Life company allocations update. At the start of 2021, annual life insurance company mortgage allocations generally mirrored 2020 year-end figures, reflecting a steep decrease from original 2020 allocations. The conservative projections reflected continued uncertainty surrounding the timing of the economic recovery, the distribution of vaccines, and...

Essex Financial Group promoted its first female partner, advancing longtime team member Alex Riggs.After several years at Essex working as a producer and with years of extensive capital mar­kets and underwriting experience under her belt, Riggs joined the ranks of several male partners at the firm.Before joining Essex, Riggs pre­viously served as the originator for the Central and Northeast Regions of Pru­dential Mort­gage Capital Co. and originated more than $1.59 billion across all of Prudential’s capital sources. The asset types she specializes in include stabi­lized and pre-stabilized multifam­ily, grocery-anchored retail, hospi­tality, industrial and Class A offic...

It’s starting to become old news to say it, but industrial properties continue to be the most desired product type among investors and lenders. As logistics, technology, e-commerce and construction services companies continue to be such important parts of our economy, the industrial real estate markets continue to flourish. We have worked on a wide range of industrial property financings this year, and we would like to share some frequently asked questions and key financing themes that have come up on recent deals.Question: We recently completed a Class A industrial development and already are 75% leased within six months of delivery. Is it too early to explore the permanent...