Madison Realty Capital Provides $95M Loan on Seattle-Area Luxe Condo
Commercial Observer reported that Bellevue, Wash.-based developer Create World Real Estate has secured $95 million in construction debt from Madison Realty Capital to build a 20-story condominium tower called MARI in the center of a highly desirable Seattle suburb. The 138-unit, mixed-use tower will be located at 10232 Northeast 10th Street in Bellevue, an area that has experienced an explosion of activity on the back of tech companies and other enterprises setting up shop in the area. MARI is near The Bellevue Collection, a shopping and entertainment center that centers around Bellevue Square, a large shopping center with more than 200 retailers that is anchored by Macy’s and Nordstrom and is located about a block away from the project. The district also includes Bellevue Downtown Park and Bellevue Arts Museum.
