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September 22, 2011

CB Richard Ellis

Rendering courtesy CBRE [enlarge]
The Parkview project is in Olympia.

CB Richard Ellis, through its direct HUD FHA lender CBRE HMF, completed construction financing for Parkview Apartments, a 72-unit complex in the Briggs Village project in Olympia. The $9.1 million non-recourse loan provides an interest-only construction period of 15 months with a 40-year, fully amortizing permanent loan. ADC Real Estate Group Ltd. of Calabasas, Calif., is the developer of Briggs Village. It will have single-family houses, a commercial center, park and arboretum on 137 acres. BCRA is the architect and High Country Contractors is the general contractor. CBRE HMF also completed refinancing for Wedgewood Estates, a Seattle Housing Authority property. The $16.7 million non-recourse, 35-year, fully-amortizing loan was originated by John Taylor of the Seattle CBRE HFM office.




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