MainStreet Property Group secures $32m for luxury apartment community in Redmond, Wash.

MainStreet Property Group secured a $32.26 million refinancing loan for Porch + Park, a 106-unit luxury apartment community in downtown Redmond, Wash.

JLL represented the borrower in acquiring the floating-rate loan through First Citizens Bank.

Situated at 16050 Cleveland St., Porch + Park is just minutes from the future Downtown Redmond Link Light Rail Extension and State Route 520. Additionally, the complex is near some of the world’s largest tech companies in Redmond and downtown Bellevue. A host of boutique retailers, restaurants, shops, office spaces and entertainment venues in downtown Redmond are only a five-minute walk from the community.

Completed in 2022, Porch + Park is LEED Platinum certified. Spanning 0.66 acres, the podium-style community offers studios, one-, two- and three-bedroom options, with an additional 9,178 square feet of retail. With an average size of 840 square feet, all units feature floor-to-ceiling windows, mini-split air condition