Mack, Silverstein, and Cantor Secure $55M Refinance for Seattle Multifamily Asset

A joint venture between Mack Real Estate Group, Silverstein Properties, and Cantor Fitzgerald has obtained a $55 million refinancing loan for Swell Apartments, a 200-unit multifamily community located in Seattle, Washington. The debt financing was originated by Japanese investment firm Orix Real Estate Capital.

Newmark's debt and structured finance team, including Jordan Roeschlaub, Chris Kramer, Sam Speciale, and Lance Tillman, arranged the transaction for the ownership group. Located at 821 South Washington Street in the Yesler Terrace section of Seattle’s Chinatown-International District, the residential development opened to residents in 2024. Property amenities include private parking, coworking areas, a fitness center, and a rooftop sky lounge.

The refinancing indicates sustained institutional debt capital appetite for newly delivered multifamily assets in core Pacific Northwest urban centers.