CBRE has arranged a $22.8 million refinance loan for the 109-unit Trailhead at the Preserve Apartment Complex located in Bremerton, Washington.
James Bach, Connor Lemley, Regina Wang, and Griffin Walker with CBRE Capital Markets’ Debt & Structured Finance team in Seattle represented Sage Homes Northwest in securing a full-term, interest-only bridge loan with a prominent debt fund lender to refinance their existing construction loan.
“The favorable outcome highlights the desirability for newly delivered multifamily properties in strong submarkets, as well as the strong liquidity in the bridge lending space for this product type,” said Lemley, vice president, Capital Markets at CBRE.
Trailhead at the Preserve offers modern studio, one- or two-bedroom apartment homes ranging in size from 730 to 870 square feet. The property features unique amenities, including private access to nature trails at the Illahee Preserve. Outdoor amenties also feature a clubhouse, fitness center, playground, courtyard, and dog park. The property, built in May 2024, is conveniently located in Bremerton and a ferry ride away from Seattle.
CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
