The Park in Bellevue, a 184-unit apartment complex in Bellevue, WA has secured $60 million refinancing in a deal arranged by Cushman & Wakefield. The borrower is Low Tide Properties and Continental Properties, LLC and the lender is Northwestern Mutual.

The Cushman & Wakefield EDSF team of Dave Karson, Alex Hernandez, Chris Moyer, Alex Lapidus and Meredith Donovan represented the borrower. Karson said, “The permanent financing market is starting to look like a more attractive option given the trajectory for the secured overnight financing rate today. The agencies still have attractively priced money and are especially competitive for quality owners like Low Tide.”

The Park in Bellevue is a 24-building, garden style community on Bellevue Way NE. The property features one- and two-bedroom units and is located just three blocks from downtown Bellevue. Ownership just recently completed $9 million in renovations to all 184 units and many of the community amenities.