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REDMOND, WASH. — MainStreet Property Group has obtained a $32.6 million loan for the refinancing of Porch + Park, a 106-unit property located at 16050 Cleveland St. in downtown Redmond, an eastern suburb of Seattle. Seth Heikkila and Steve Petrie of JLL Capital Markets arranged the floating-rate loan through First Citizens Bank.
Porch + Park was built in 2022. The community offers studio, one-, two- and three-bedroom floor plans. Amenities include a rooftop deck and a gym with row machines, yoga spaces and a boxing area. The property also includes 9,178 square feet of ground-floor retail space.