Berkadia closed the financing of Peak at Sunrise, an 80-unit, garden-style multifamily property in Puyallup, WA. Senior director Vince Punzi and VP – originations Lowell Takahashi of Berkadia Irvine secured $18 million in refinancing through Freddie Mac in partnership with DSC Capital.
“We successfully structured the property in lease up and secured a five-year fixed loan,” said Punzi. “This allowed us to lock in the interest rate before the 50-basis point run-up in the treasury.”
Located at 17424 122nd Ave East, the property provides access to Interstate 5. Peak at Sunrise was built in 2022 by a Washington based developer and features 80 townhomes and low-rise apartment units with an average square footage of 1,113. It’s located within the Sunrise Master Planned Community.
The post Berkadia Provides Freddie Mac Financing on Puyallup Apartments appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
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