Allez-Apts-Redmond-WA

Pine Forest Properties Receives $30M Loan for Mid-Rise Multifamily Community in Redmond, Washington

by Amy Works

REDMOND, WASH. — Pine Forest Properties has received a $30 million loan for the refinancing of Allez Apartments, a multifamily property in downtown Redmond. Seth Heikkila and Steve Petrie of JLL Capital Market’s Debt Advisory team secured the 10-year, fixed-rate loan through PGIM Real Estate for the borrower.

Located at 8397 158th Ave. NE, Allez Apartments offers 148 studio, one- and two-bedroom units with high-end finishes, including custom cabinetry, ceramic-top ranges, stainless steel appliances, hardwood flooring and high ceilings. Community amenities include a fitness center, an outdoor patio with grills and fireplace, a resident lounge, bike storage and repair station and controlled access garage parking.

Additionally, the property offers 2,844 square feet of ground-floor retail space and participates in Redmond’s ARCH program, designating 12 units as affordable housing at 80 percent of area median income to provide housing options for a range of income levels.

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