Walker & Dunlop Secures $39M Refinancing for Bloom Apartments in Seattle Suburb of Kirkland

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Bloom Apartments
Built in 2023, The Bloom Apartments are located at 13120 NE 85th Street in Kirkland. It is a pet-friendly community which features floorplans of 1-bed/1-bath and 2-bed/2-bath ranging from 600 to 1,000 square feet. 

Walker & Dunlop has arranged a $39 million refinance for Bloom Apartments, a 135-unit, 3-story multifamily apartment community located in the Seattle suburb of Kirkland.

Bloom Apartments amenities include walk-in closets, vaulted ceilings (in select homes), air conditioning ports, designer light fixtures, contemporary subway tile backsplash, undermount sinks, custom two-tone cabinetry, quartz countertops, and modern vinyl flooring. Community amenities include bike storage, package service, a state of the art fitness center, a controlled access parking garage, an indoor/outdoor lounge with spacious kitchen and ample seating, plus a dog wash station.

Situated in the Rose Hill area, the property offers easy access to eateries, shops and parks. Kirkland is situated by the lake just east of Seattle and boasts a vibrant downtown scene with urban amenities and nearby nature attractions.

The Walker & Dunlop Capital Markets team was led by Mark Plenge and Grant Robertson, who arranged the refinancing on behalf of client Merit Holmes.

The team identified Bridge Investment Group as the lender to secure a maximum-progress, full-term, interest-only, non-recourse debt loan with a flexible prepayment structure.

Walker & Dunlop, headquartered in Bethesda, Maryland, is one of the largest commercial real estate services and finance companies in the United States providing financing and investment sales to owners of multifamily and commercial properties. Walker & Dunlop, which is included in the S&P SmallCap 600 Index, has over 650 professionals in 29 offices across the nation with an unyielding commitment to client satisfaction.