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Speedway Center Snags $11M in Financing

LYNNWOOD, WA-The 90,000-sf retail center has received the permanent financing. It was arranged through L.J. Melody & Co, with Nationwide Life Insurance Co. providing the funding on behalf of the Mukilteo Center LLC.

By Gina Binole | Updated on September 23, 2002

LYNNWOOD, WA-The Speedway Shopping Center has received nearly $11 million in permanent financing.

The 90,000-sf neighborhood center was built in 1992 and is anchored by Food Emporium and Bartell Drugs.

The Houston-based L.J. Melody & Co., a national real estate investment banking firm, arranged the financing. Nationwide Life Insurance Company provided the funding on behalf of Mukilteo Center LLC. Jack Standeford and Lois Townsend in the Seattle office of L.J. Melody arranged this transaction.

L.J. Melody, a CB Richard Ellis company, is one of the largest real estate investment banking firms in the United States. Over the past two years the firm arranged $15 billion in commercial real estate transactions nationwide.

In recent months, GlobeSt.com also has reported L.J. Melody & Co. arranged a $25.3 million loan for the office building at 2401 Fourth Avenue and Battery Downtown, and a facilitated a $56.6 million loan for 4th and Blanchard Building in Downtown Seattle.

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