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NorthMarq Arranges $37M Refi for Puyallup Multifamily Property
The initial phase of Glacier Run, a 240-unit multifamily property in Puyallup, was refinanced for $37.44 million. The apartment community is located at 12020 Sunrise Boulevard East.
NorthMarq’s Bob Spiro and Scott Moline arranged the financing on behalf of an unnamed borrower. The transaction was structured with a 10-year term on a 30-year amortization schedule.
Glacier Run features garden-style apartment units with a variety of amenities. Common amenities include a heated pool, fitness center, dog park, three season room, and clubhouse. Individual units feature large open spaces with high-end finishes including quartz counter tops and stainless-steel appliances.
“We were able to provide construction take-out financing that was competitively priced with a streamlined closing process during these challenging times,” said Spiro.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
