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Berkadia Provides Freddie Mac Financing on Puyallup Apartments
Berkadia closed the financing of Peak at Sunrise, an 80-unit, garden-style multifamily property in Puyallup, WA. Senior director Vince Punzi and VP – originations Lowell Takahashi of Berkadia Irvine secured $18 million in refinancing through Freddie Mac in partnership with DSC Capital.
“We successfully structured the property in lease-up and secured a five-year fixed loan,” said Punzi. “This allowed us to lock in the interest rate before the 50-basis point run-up in the treasury.”
Located at 17424 122nd Ave. E., the property provides access to Interstate 5. Peak at Sunrise was built in 2022 by a Washington based developer and features 80 townhomes and low-rise apartment units with an average square footage of 1,113. It’s located within the Sunrise Master Planned Community.
- ◦Financing
