Acquisition, Rehab
YWCA
Fifth & Seneca

Financial and Development Consultant to the YWCA related to the syndication of their historic landmark downtown administrative and multifamily building “Fifth & Seneca.”. Scope included acquisition due diligence, financial analysis, value determination, Capital Needs Assessment and inspections, preparation of Owner’s Construction Program for renovation, contractor and architect procurement under a Design-Build method, Public Funder debt applications, lender and investor procurement and selection, lender and investor negotiations, lender and investor due diligence, partnership and debt document edit and review, tax credit application, construction loan structuring, and transaction closing lead. Post closing services included project cost tracking and construction draw submittals, facilitating investor equity pay-in(s) and the final cost certification. Brawner also provided resident relocation planning and implementation, as well as asset management services to the YWCA prior to and during construction. Brawner’s subsidiary, McCullough Allen provided Owner’s Representative services prior to and during construction.

  • GEOGRAPHY TYPE: Urban
  • CLIENT TYPE: Non-profit
  • FINANCING TYPE: 9% LIHTC
  • PROJECT TYPE: Acquisition, Rehab
  • NUMBER OF UNITS: 114
  • LENDER: Chase
  • LIHTC INVESTOR: RBC
  • EQUITY INVESTMENT: $36,800,000.00
  • FINANCING SOURCE:
    9% LIHTC, Historic Credits, Privately-Placed Taxable Construction and Permanent Financing, City of Seattle, Department of Commerce, Seller Financing
  • REHAB / NEW CONSTRUCTION VALUE:
    $58,600,000
  • TAXABLE CONSTRUCTION FINANCING AMOUNT:
    $38,870,000
  • TAXABLE PERMANENT FINANCING AMOUNT:
    $5,850,000
  • DEVELOPMENT / FINANCING BUDGET:
    $77,780,000
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