iBorrow Finances Olympia Office Building in Washington with $8.9 Million Loan

iBorrow, a private direct lender for commercial and multi-family real estate, has provided an $8.9 million loan for a two-story, 88,450 square-foot office building at 3000 Pacific Avenue South in Olympia, Washington. Built in 1987 and renovated in 2001, the property sits on more than four acres of land and is currently 74% occupied. The borrower, OB Investors, which has owned the property for over 10 years, has initiated a plan to re-lease the vacant space and take advantage of the solid market. “The borrower needed a new loan to enable it to continue its leasing efforts