Northmarq’s Seattle Debt + Equity team arranges $67 million refinance of Camber Apartments in Bremerton, WA

BREMERTON, Wash. (Jan. 9, 2025) — Northmarq’s Seattle Debt + Equity team led by Robert Spiro successfully completed the $ 67 million refinance of Camber Apartments, Phases 1 and 2 — a garden-style multifamily community located at 1231 NE McWilliams Rd in Bremerton, Washington.

Northmarq arranged financing on behalf of the borrower, through its in-house Fannie Mae delegated underwriting program. The permanent-fixed deal was structured on a seven-year term.

“Another great property to get financed to pay off both construction loans just before year end,” said Spiro.

Camber Apartments feature two adjacent multifamily properties, with Phase 1 being built in 2021 and Phase 2 built in 2024. Camber Phase 1 features 204 units, and Camber Phase 2 features 120 units. The community features one-, two- and three-bedroom units with quartz countertops, stainless steel appliances, primary suites, lush park-like views, luxury vinyl flooring, spacious walk-in closets, and a balcony or patio with every unit.

Community amenities include a fitness center, a clubhouse with a caterer’s kitchen, fire pits, controlled access and gated entry, a heated resort-style pool, a covered outdoor spa, pool, theater-inspired media room, integrated trails, BBQ picnic shelters, play areas, and it is pet friendly.

The Camber Apartments complex is located within close proximity to Kitsap Naval Base and the Bremerton ferry system to Seattle.