The Seattle Debt + Equity team at Northmarq, led by Robert Spiro, has successfully completed the refinancing of Camber Apartments Phases 1 and 2. The garden-style multifamily community is located at 1231 NE McWilliams Rd in Bremerton, Washington and was financed through Northmarq’s Fannie Mae delegated underwriting program. The seven-year term deal was structured as a permanent-fixed loan for $67 million.
Camber Apartments consists of two adjacent multi-family properties built in different years – Phase 1 in 2021 and Phase 2 in 2024. With a total of over three hundred units between them (204 units for Phase One and another one hundred twenty units for Phase Two), the community offers residents one-, two- ,and three-bedroom options with modern features such as quartz countertops, stainless steel appliances, and private balconies or patios.
Residents also have access to various amenities including a fitness center, clubhouse with caterer’s kitchen, fire pits, heated resort-style pool with covered outdoor spa area. Additionally,the location is ideal being close to Kitsap Naval Base as well as the Bremerton ferry system providing easy access to Seattle.
This successful refinance marks yet another achievement by Northmarq’s experienced team who continue to secure financing solutions that meet their clients’ needs.
