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Seattle & Northwest  + Washington  + Apartments  |  November 6, 2024
Jasmine Kilman
By: Jasmine Kilman

CBRE Arranges $23M Refi for Bremerton Apartment Complex

CBRE has arranged a $22.8 million refinance loan for the Trailhead at the Preserve Apartment Complex located at 1970 NE Fuson Rd, 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.

The 109-unit apartment complex offers modern studio, one- or two-bedroom apartment homes with unique amenities, including private access to nature trails at the Illahee Preserve. The property, built in May 2024, is conveniently located in Bremerton and a ferry ride away from Seattle.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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