CBRE has successfully arranged $47 million in construction financing for Motto Apartments, a 228-unit multifamily development by Intracorp Homes located in Marysville, Washington. The financing was secured by CBRE’s team of experts including James Bach, Connor Lemley, Regina Wang and Griffin Walker on behalf of their client Intracorp. They reached out to nearly 100 banks, life insurance companies and debt funds to obtain competitive quotes for the construction loan.
With this funding secured, construction will commence on the garden-style apartment complex which is situated just 35 miles north of Seattle. The project is expected to be completed in early 2026 and will offer top-notch amenities such as air-conditioned units, an outdoor pool, clubhouse with fitness center facilities as well as fire pits and a dog park.
According to Bach: “The recent increase in interest rates has led to higher demand for construction-to-permanent loans after years of low-cost floating rates.” He further added that this development will not only cater to the growing housing needs but also contribute positively towards the community of Marysville.
This news was originally published on Connect CRE website.
