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TACOMA, WA-The 337-unit Lakeshore Apartments has received a $13 million permanent mortgage loan.

Bridger Commercial Funding says the 10-year non-recourse loan carries a fixed rate of 6.7% with a 30-year amortization schedule and will be securitized as part of a future Commercial Mortgage-Backed Securities transaction. The loan was underwritten to a 1.31 DSCR and a 75% LTV.

Located at 9615 18th Ave. S, the Lakeshore complex is located near Interstate 5 and Downtown. It features one- to three-bedroom units and rents for roughly $500 to $850 a month.

Bridger helps banks throughout the country originate CMBS loans and maintains production offices in Atlanta, Chicago, Dallas, San Diego, and Washington D.C.

Bridger Commercial Funding is a leading commercial real estate capital markets resource serving the U.S. banking industry, with more than 900 bank relationships nationwide. Bridger’s commercial mortgage-backed securities (CMBS) loan origination program enables banks to boost financial performance by generating substantial fee income while retaining and enhancing borrower relationships

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