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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.

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Berkadia's Punzi

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing