Updated Dec 4, 2024
Sage Homes Northwest Secures $22.8 Million Refinance Loan For 109-Unit Multifamily In Bremerton
1970 Northeast Fuson Road
$22,800,000
Units
109
Asset Type
MultiFamily
Closing
Nov 5, 2024
About this deal
AI
The property asset involved in the transaction is a 109-unit multifamily apartment complex located at 1970 Northeast Fuson Road in Bremerton, WA. The complex was built in May 2024 and offers private access to trails at the Illahee Preserve.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $22,800,000
- Landlord: Sage Homes Northwest
- Loan Type: Refinance
- Date: 11/05/2024
- Brokers: Connor Lemley, James Bach & Regina Wang - CBRE
CBRE secured the interest-only bridge loan for Sage Homes Northwest, positioning the firm as a key player in the refinancing of Trailhead at Preserve.
On the Map
$22,800,000
MultiFamily
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Players
Bremerton MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93