-- Crux Commercial Partners secured $3 million in construction-to-mini-perm financing for a new 10-unit multifamily development in Northwest Washington. The borrower is developing a 10-unit residential building and required maximum leverage with a fixed-rate structure to ensure long-term project viability.
Designed to meet high-leverage requirements, the loan offers fixed-rate certainty and an interest-only period to support the project’s early phases.
Project Financing Highlights:
- Location: Northwest Washington
- Loan Amount: $3,000,000
- Structure: Construction-to-mini-perm
- Term: 5-year fixed rate, 10-year total, 30-year amortization
- Interest Only Period: 18 months
- Spread: 2.00 over FHLB
- LTC: 80%
- Referral Source: Local real estate broker
LTC and fixed terms are increasingly rare. Crux worked quickly to structure a loan that included an 18-month interest-only period, fixed interest rate, and amortization terms designed to support both the build phase and future refinance potential.
“In today’s environment, high-leverage fixed-rate loans are often delayed or declined,” said Jacob Wilson, co-founder of Crux Commercial Partners. “We were able to align lender expectations with the borrower’s timeline and capital strategy, which made this transaction possible.”
Crux worked closely with the borrower from underwriting through close, identifying a lender capable of meeting both the leverage and speed requirements.
This loan adds to Crux’s record of arranging capital for small to mid-sized multifamily projects across the Pacific Northwest, a region where housing demand remains strong, but access to favorable construction capital continues to tighten.
About Crux Commercial Partners
Crux Commercial Partners is a boutique commercial real estate finance firm based in Tacoma, WA. Known for bold structuring and unmatched execution, Crux has closed over $4.5 billion in transactions across sectors including multifamily, industrial, mini storage, and non-profit facilities. The firm leverages an expansive network of local, regional, and national capital sources, including SBA lenders, CMBS issuers, and private equity, to deliver value-add solutions with speed and precision. For more information, visit cruxcre.com.
About Us: US Commercial Lending News delivers expert reporting and industry analysis across commercial real estate, lending, banking, finance, and investment sectors. From interest rate trends to major acquisitions and market-shaping technologies, our coverage connects decision-makers to the insights that drive the future of business and investment.
Contact Info:
Name: Ed Winslow
Email: Send Email
Organization: US Commercial Lending News
Address: 135 West 36th Street, New York, NY 10018, United States
Phone: 203-912-7244
Website: https://uscommerciallending.com/
Release ID: 89163482
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