Newmark Realty Capital Inc. has arranged $6.1 million in financing for a Seattle-based real estate investment group’s acquisition of two Spokane multifamily rental properties with a total of 148 apartment units, says Demetri Koston, vice president at Newmark’s Spokane office.

One of the acquired properties is The Chateaux, a nine-story, 84-unit apartment building located north of downtown, at 930 N. Washington.

The other acquired property is Randolph Arms, a 64-unit complex consisting of a pair of two-story buildings at 3915 W. Randolph Road, just west of the Spokane Falls Community College athletic stadium in northwest Spokane.

“We arranged a Fannie Mae loan,” Koston says, referring to the Federal National Mortgage Association’s mortgage-backed security program that helps provide money for the U.S. housing market.

Koston declines to name the borrower. “It’s a Seattle-based investment group with a portfolio of similar properties in Seattle,” he says, adding, “This is their first commercial presence in our market.”

Spokane County Assessor’s Office records show that as of an April 21 real estate transaction, the new property owner is ICP Spokane I LLC, a subsidiary of ICP Capital Partners LLC, of Seattle.

Units at The Chateaux range in size from 640 square feet to 1,000 square feet of living space, with monthly rents ranging from $725 to $910, while units at Randolph Arms range in size from 400 to 1,200 square feet with rents from $590 to $915, according to their respective websites.

San Francisco-based Newmark Realty Capital is one of the largest independently held commercial mortgage banking firms in the West, Koston says.

Office

Stewart Title Co., the Houston-based property-title examiner and insurer, has leased 5,100 square feet of office space in the Park Center Building, at 908 N. Howard, and has moved its Spokane office there from smaller quarters at 606 W. Third. Tim Kestell, of Kiemle & Hagood Co., and Chris Bornhoft, of Windermere/Manito LLC, handled the transaction.

Investment

Thomas Anderl, a Coeur d’Alene real estate developer, has bought as an investment three vacant lots totaling 3 acres of land the at the northeast and southeast corners of Canfield Avenue and Pinegrove Drive, in north Coeur d’Alene. Craig Hunter and Rob Kannapien, both of Coldwell Banker Commercial Schneidmiller Realty, and Bill Robinette, of SPC Commercial Real Estate LLC, handled the transaction.

Athena Investments LLC, of Cheney, has bought as an investment a 3.5-acre parcel of vacant land at 4814 S. Ben Franklin Lane, in the Thorpe Westwood area of the West Plains. Earl Engle and Chris Bell, both of NAI Black, handled the transaction.