NBS Assists Investor In Acquiring Financing

Norris Beggs & Simpson, a well-known provider of financial services in Seattle, has secured a $23.2 million loan for a real estate investor for a 616,894-square-foot ground lease.

Executive vice president Mike Wood arranged all of the details. The loan provides a 10-year term with five years interest-only and a 30-year amortization.

Wood commented, "A ground lease, especially one of this size, isn't a common way to structure an investment, and this loan basically finances the payments to the ground lease owner."