Bill Chiles, Scott Peterson, Brian Cruz and Colby Matzke of CBRE Capital Markets’ Debt & Structured Finance have arranged $24 million in financing for the acquisition of Cedar Rim, a 104-unit apartment community in Newcastle, WA. The firm secured the 10-year, floating-rate loan on behalf of MIG Real Estate.

“Cedar Rim was built in 1981 and renovated between 2006 and 2008,” said Peterson in a news release. “MIG plans to finish interior renovations and will upgrade where needed to the same high-quality standards.”

Located at 7920 110th Ave. SE, the community consists of 13 four-floor buildings on 4+ acres. The units are two-bedroom floorplans and feature keyless smart door locks, smart thermostats, oversize windows and in-unit washers and dryers. Amenities at the lakeside complex include an outdoor lounge, grilling stations, package lockers and a sunbathing deck.