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Commercial Observer: Peachtree Leads $63MM Debt Package for Washington State Apartments

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Gregory Koenig, senior vice president of commercial real estate credit at Peachtree Group, and rendering for Yorkshire Apartments in Tumwater, Wash.

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Commercial Observer - Grandview Companies has secured a $63 million financing package for the development of a multifamily development in Western Washington, Commercial Observer has learned.

Peachtree Group originated a $28.3 million, 26-month first mortgage and 30-year $17 million Commercial Property Accessed Clean Energy (C-PACE) loan for the developers’ planned 280-unit Yorkshire Apartments project in Tumwater, Wash. Hickory CRE Lending also provided a $17.7 million mezzanine loan as part of the transaction, which was brokered by Zack Goodwin, managing partner at CapNorth.

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