TUMWATER, WA—NBS Financial Services has arranged $26.7 million in permanent financing for Town Center East III, a 5-story 157,625 square foot building in Tumwater, near Olympia. NBS Financial represented both the lender as well as the borrower. Associate vice president Jeff Henderson and associate finance officer Zack Goodwin, made the arrangements.
The office property was built in 2006 as part of a greater campus occupied by the State of Washington. Although a small portion of vacancy remains in the building, the lender was comfortable that it will be 100% leased within the next 18 months.
Located at 243 Israel Road in southeast Tumwater, Town Center East III is approximately 5 miles from the state's capital. Additional terms were not disclosed.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
