CBRE Arranges $85.5M Construction Loan for Ion Multifamily Development in Shoreline, Washington
SHORELINE, WASH. — CBRE has secured an $85.5 million construction loan for the development of Ion, a 252-unit apartment community in Shoreline.
Bill Chiles, Scott Peterson and Morgon Fraser of CBRE’s Capital Markets Debt & Structured Finance team arranged the loan for AAA Management, the developer.
Located at 345 NE 149th St., Ion will feature seven stories of residential space above three levels of subterranean parking with 241 parking spaces. Tenant amenities will include a fitness facility, rooftop deck and bike storage. Completion is slated for April 2024, with an opening scheduled for July 15, 2024.