JLL has successfully arranged a $30 million loan for Allez Apartments, an upscale multifamily community located in downtown Redmond, Washington. The borrower, Pine Forest Properties, was represented by JLL’s Debt Advisory team led by Senior Director Seth Heikkila and Director Steve Petrie. The 10-year fixed-rate loan was secured through PGIM Real Estate.
Strategically situated at 8397 158th Ave NE, Allez Apartments is a six-story mid-rise complex that offers a total of 148 units with an average size of 788 square feet. Completed in the year 2014, the community features a mix of studio apartments as well as one- and two-bedroom units.
In addition to its residential offerings, Allez Apartments also includes ground-floor retail space spanning over an area of approximately2 ,844 square feet. Furthermore,the property participates in Redmond’s ARCH program which designates12 affordable housing units at80% AMI to cater to individuals with varying income levels.
This successful transaction highlights JLL’s expertise in securing favorable financing options for their clients within the commercial real estate market.
