JLL Capital Markets arranges Fannie Mae financing on behalf of MainStreet Property Group for Bothell apartment complex
News release
23 April 2025
$19M refinancing secured for urban-style apartment community, The 104, in Washington
SEATTLE, Apr. 23, 2025 – JLL Capital Markets announced today it has arranged $19 million in financing for The 104, a 115-unit urban-style apartment community in Bothell, Washington.
JLL worked on behalf of the borrower, MainStreet Property Group LLC, to secure the five-year, fixed-rate loan through Fannie Mae. The loan will be serviced by JLL Real Estate Capital, LLC.
The 104 features a mix of traditional and open one- and two-bedroom floor plans, averaging 773 square feet. The property offers high-end finishes, including stainless steel appliances, walk-in closets, and exposed concrete details. Community amenities include a lounge with kitchen, a community courtyard, bike storage and valet trash service.
Located at 18414 104th Ave. NE, the property is situated minutes from I-405 and SR-522 in the heart of Downtown Bothell. Residents benefit from proximity to major employers in nearby Kirkland, Redmond and Bellevue, with several global technology giants and Fortune 500 companies all within a 20-minute drive. The property is also walking distance to Downtown Bothell’s renewed Main Street, featuring restaurants, bars, coffee shops, and more.
The JLL Capital Markets Debt Advisory team was led by Senior Director Seth Heikkila and Associate Bill Maloney.
"The 104 exemplifies the high-quality multifamily product that continues to attract strong interest in Seattle's Eastside markets," Heikkila said. "We expect sustained rental demand in Bothell driven by its strategic location and access to the region's expanding tech job centers. This financing will allow MainStreet Property Group LLC to optimize their investment in this best-in-class asset."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About MainStreet Property Group
MainStreet Property Group LLC is committed to developing exceptional places that delight customers and enhance communities through innovation and sustainable approaches. Recognized as NAIOP Washington State's Developer of the Year in 2019, the company’s impact on the Eastside includes revitalizing areas like Bothell, Kenmore, Redmond, Sammamish, and Woodinville.