PORTLAND, OR – HFF announced it has secured a $5.5 million acquisition financing for Sunset Station (top left photo), a 55-unit, mid-rise multi-housing community in SeaTac, Washington.
HFF worked on behalf of Cumberland Holdings, LLC to secure the five-year fixed-rate loan through a national bank on a non-recourse basis.
Sunset Station is located near the intersection of South 176th Street and Highway 99 approximately one and one half miles east of Seattle-Tacoma International Airport. The 98 percent occupied property is comprised of studio, one-, two- and three-bedroom units. Built in 2007, community amenities include an internet café, playground, fitness center and underground parking. The property will be renamed Avion Apartments.
The HFF team representing the borrower was led by managing director Tom Wilson (middle right photo) and senior managing director Paul Brindley (lower left photo).
Cumberland Holdings, LLC is a real estate investment and asset management company. The firm focuses on strong real estate markets with solid tenant demand drivers and significant barriers to new development.
Cumberland Holdings offers investors and clients an experienced investment, accounting and legal platform for income producing real estate, which allows the firm to provide institutional quality investment management services. The company has offices in San Francisco and Rolling Hills, California.
Contacts:
TOM WILSON
HFF Managing Director
(503) 224-0444
PAUL BRINDLEY
HFF Senior Managing Director
(310) 407-2100
MYRA F. MOREN
HFF Director, Marketing
(713) 852-3500
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