homeWelcome, sign in or click here to subscribe.login
     


 

 

Real Estate


print  email to a friend  reprints add to mydjc  

February 15, 2024

JLL secures $79M refi in Bremerton

[enlarge]
Marina Square

Completed almost exactly one year ago by developer Sound West Group, Marina Square is the large new mixed-use project on Bremerton's downtown waterfront, overlooking the city's marina. Now that its retail and 270 apartments are up and running, it's time to refinance the project and retire the old construction loan. JLL announced that it recently secured $79 million in refinancing from TPG Real Estate Credit. The effort was led by Tom Wilson, Steve Petrie and Seth Heikkila. The latter said in a statement, “Over the next several years, market dynamics in Bremerton are forecasted to outperform relative to most of the country, driven in large part by exciting new developments with the Puget Sound Naval Shipyard and Naval Base Kitsap. This will only further drive demand for high-quality multi-housing rental assets like Marina Square.” As for the 9,158 square feet of retail, JLL says that a deli, the Market at Marina Square, is now open, and that a YMCA and restaurant are coming.




Email or user name:
Password:
 
Forgot password? Click here.