|
|
8/07/26
|
Timberlane Partners has landed a $52 mil, short-term, first-mortgage loan to refinance Sumner Mill Apartments, a 162-unit multifamily community in Sumner, WA. The new loan was provided by Mesa West Capital.
Delivered in 2024 by the sponsor, Sumner Mill Apartments is a 3.89-acre, garden-style Class A community located at 5816 162nd Avenue East with a mix of studio, one-bedroom and two-bedroom apartment homes in nine free-standing residential buildings. Community amenities include an outdoor swimming pool, a fitness center, a resident clubhouse with a full kitchen, a conference room, a package room, a dog park, a picnic area, EV-enabled parking spaces and rooftop solar panels.
Residents also benefit from proximity to neighborhood retail and service amenities, Sumner’s historic downtown district, the Sounder commuter rail line, and a variety of outdoor recreation destinations including Lake Tapps, the Sumner Link Trail and Mount Rainier National Park. The property is further supported by highly rated schools within the Sumner-Bonney Lake School District.
Located approximately 35 miles south of Seattle and 12 miles east of Tacoma, the city of Sumner benefits from its position as an affordable, family-oriented residential community within commuting distance of both Seattle and Tacoma’s employment centers.
The financing was arranged Jake Roberts of BWE in the firm’s Los Angeles office. Mesa West was led in the deal by Joshua Westerberg, Head of Originations for the Western Region, and Steve Fried, Principal and Head of Originations.
|
|
 Return to the previous page
|
|
|
|
|
Printer-friendly Version
Email an Associate
