National Cooperative Bank Finance CUs’ MBLs

The National Cooperative Bank has purchased a $7.25 million loan participation in a $12.25 million loan facility with Alaska USA FCU for the refinancing of the KeyBank Center in Anchorage.

The building was originally purchased in 2012 by the Bligh Island Corp., a fully owned subsidiary of The Tatitlek Corp., an Alaska Native village corporation of Prince William Sound with 329 shareholders.

NCB said it also arranged a $35 million commercial real estate loan for an Anchorage office building to refinance existing debt, fund tenant improvements and fulfill leasing commissions. With an unnamed California credit union and Alaska’s Northrim Bank.

“These transactions are the perfect example of how member-owned organizations—like NCB and credit unions—are successfully partnering to provide creative financing solutions to entities across the country,” said Steven Brookner, president of NCB.

NCB is headquartered in Washington, D.C., and has offices in Alaska, California, New York, Ohio and Virginia.