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Michael Corliss Of Investco Secures $33M Loan For Renwood Apartment Homes In Bonney Lake

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FINANCED
$33,000,000

Washington

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MultiFamily
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FINANCED

Michael Corliss Of Investco Secures $33M Loan For Renwood Apartment Homes In Bonney Lake

9002 186th Avenue East

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MultiFamily
Financed
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Summary

WASHINGTON
Asset Type:MultiFamily
Transaction Type:Loan

The property asset involved in the transaction is the 186-unit Renwood Apartment Homes located at 9002 186th Avenue East in Bonney Lake, WA. The asset type is multifamily, built in 2014, featuring one- to three-bedroom units along with modern amenities such as a pool, fitness center, and dog park.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $33,000,000
  • Lender: Fannie Mae
  • Landlord: Michael Corliss - Investco
  • Broker: Northmarq
  • Loan Purpose: To retire maturing debt

Northmarq, acting as broker, facilitated the arrangement of the loan for Investco, the owner of the multifamily property. This transaction highlights the involvement of Fannie Mae as the lender and Michael Corliss representing Investco in the deal.

Players

NorthMarq
NorthMarq
BROKERAGE
Fannie Mae
Fannie Mae
LENDER
Michael Corliss
Invesco
Michael Corliss
1 deal$33M volume
LANDLORD
Invesco
Invesco
LANDLORD

Details

FINANCED
IMAGE: 10/08/2025 ADDRESS: 9002 186th Avenue East MARKET: Bonney Lake, WA ASSET TYPE: Multifamily LENDER: Fannie Mae LANDLORD: Michael Corliss - Investco BROKER: Northmarq LOAN AMOUNT: $33,000,000 NOTE: Northmarq, acting as broker, arranged a $33M Fannie Mae loan for the 186-unit Renwood Apartment Homes in Bonney Lake, Wash., enabling owner Investco to retire maturing debt. Built in 2014, the property offers one- to three-bedroom units with modern amenities and on-site facilities including a pool, fitness center, and dog park.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$33,000,000.00

Monthly NOI$220,000.00
Monthly Debt Service$208,582.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00