Fifty Stones Capital Group Close $31 Million Loan for Multifamily Portfolio Acquisition and Refinance in Seattle, WA.

Seattle, WA – May 13, 2024 – In a bold move that exemplifies the power of collaboration, strategic lending, and market confidence, Fifty Stones Capital Group has successfully closed a $31 million bridge loan for the acquisition and refinance of a multifamily portfolio in Seattle, Washington. The transaction was spearheaded by a seasoned commercial real estate broker who identified the opportunity and brought it directly to Fifty Stones, seeking a creative, high-speed financing solution for their client.

The multifamily portfolio includes a blend of stabilized and value-add properties spread across key submarkets in Seattle, totaling over 180 units. The sponsor, a seasoned real estate investor with a strong regional footprint, was seeking to acquire two additional buildings while refinancing existing debt across three others, a complex undertaking requiring a single-source capital solution under tight timelines.

“This wasn’t just a refinance or acquisition. It was a strategic repositioning of an entire portfolio,” said Mark Shea, the CEO of Fifty Stones Capital Group. “The broker was instrumental in aligning the right borrower with our lending criteria, and we knew immediately this was a deal worth structuring around.”

The transaction posed several challenges, including the coordination of multiple third-party payoffs, underwriting across mixed asset types and conditions, and a compressed closing window of just under 30 days. The borrower was also facing rate lock deadlines for other capital sources, making speed and certainty of execution mission-critical. But it was the broker’s clear presentation, proactive communication, and deep understanding of both the borrower’s needs and Fifty Stones' underwriting appetite that made the difference.

“We’re seeing more brokers realize that private lenders like Fifty Stones aren’t just funding partners, we’re deal-making partners,” said Mr. Shea. “In this case, the broker packaged the opportunity with a full diligence file, investor background, and proposed terms upfront. That allowed us to go straight into underwriting with confidence and efficiency.”

With the Pacific Northwest real estate market experiencing tightening credit and increased scrutiny from institutional lenders, private capital continues to be an essential resource for dynamic investors looking to move quickly. This transaction underscores Fifty Stones Capital Group’s ability to provide flexible bridge financing in transitional scenarios, including portfolio-level transactions and refinance-acquisition hybrids.

“This wasn’t a cookie-cutter deal, and it didn’t need a cookie-cutter lender,” said the broker who originated the transaction. “The client needed creativity, speed, and a lender who could navigate complexity without red tape. Fifty Stones delivered on every front.”

The borrower is now focused on lease-up and stabilization of the two new assets while optimizing operations across the portfolio. The projected increase in NOI (net operating income) is expected to position the sponsor for an agency refinance or asset disposition within 24 months, a timeline that aligns with the bridge loan's interest-only term.

About Fifty Stones Capital Group

Fifty Stones Capital Group is a private lending firm providing strategic bridge, construction, and acquisition financing across the United States. Known for their creativity, speed, and ability to fund complex transactions that traditional lenders avoid, Fifty Stones partners with brokers, sponsors, and developers nationwide to unlock capital and drive growth.