Northmarq’s Debt + Equity team arranges $33M refinance of Renwood Apartment Homes in Bonney Lake, WA

BONNEY LAKE, Wash. — Northmarq’s Seattle Debt + Equity team led by Robert Spiro successfully arranged the $33 million refinance of Renwood Apartment Homes, a 186-unit multifamily community located at 9002 186th Ave. E in Bonney Lake, Washington.

Northmarq arranged the permanent financing, through its in-house Fannie Mae DUS platform. The transaction was structured as a fixed-rate long-term loan.

“Fannie Mae, a market leader in low fixed rate financing, provided a great solution to refinance a maturing loan,” Spiro said.

Renwood Apartment Homes offer spacious one-, two- and three-bedroom apartments with private decks, landscape views, huge windows with window coverings, gourmet kitchens and generous bathrooms and closets.

Community amenities include a seasonal heated pool, state-of-the-art fitness center, outdoor play area, lush landscaped grounds, a community lodge with a business center and conference room, free Wi-Fi in the common areas, reservable private garages and covered parking, a gated community, friendly on-site staff, a fenced off-leash dog park, and a three seasons room with an outdoor firepit and barbecue.

The community is tucked way in Bonney Lake, offering beautiful scenery with close proximity to downtown amenities. It is located near access to Washington State Route 410 as well as shopping and dining options. It is 16 miles from downtown Tacoma and 26 miles from Seattle-Tacoma International Airport.