CBRE Secures $47M in Construction Financing for MF North of Seattle – Connect CRE

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CBRE has arranged $47 million of construction financing for Motto Apartments, a 228-unit multifamily project being developed by Intracorp Homes in Marysville, Washington.

CBRE’s James Bach, Connor Lemley, Regina Wang and Griffin Walker secured the construction to permanent, seven-year fixed, full-term interest-only financing on behalf of their client, Intracorp. The CBRE team requested construction loan quotes from nearly 100 banks, life insurance companies, and debt funds.

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With the close of this financing, construction on 228 garden-style apartment units 35 miles north of Seattle will begin with a slated completion date in early 2026. The property will feature amenities such as air-conditioned units, an outdoor pool, a clubhouse, a fitness center, fire pits, and a dog park.

“After years of low-cost floating rates, the rising rate environment has put construction-to-permanent loans in high demand again,” said Bach. “This project will address the coming need for housing and be a benefit to the Marysville community.”

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