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JLL Arranges $32M for New Sustainable MF Complex in Redmond
JLL has secured a $32.26 million refinancing loan for Porch + Park, a 106-unit luxury apartment community in the heart of downtown Redmond, Washington.
JLL represented the borrower, MainStreet Property Group LLC, in acquiring the floating-rate loan through First Citizens Bank. JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Director Seth Heikkila and Director Steve Petrie.
Situated at 16050 Cleveland St., Porch + Park is just minutes from the future Downtown Redmond Link Light Rail Extension and SR-520. Additionally, the complex benefits from close proximity to some of the world’s largest tech companies located in Redmond and Downtown Bellevue. A host of boutique retailers, restaurants, shops, office spaces and entertainment venues in downtown Redmond are only a five-minute walk from the community.
Completed in 2022, Porch + Park is LEED Platinum certified, making it the highest quality in sustainability possible. Spanning over 0.66 acres, the podium-style community offers studios, one-, two- and three-bedroom unit options, with an additional 9,178 square feet of retail.
