January 8, 2026
Workforce Housing Community 
Cle Elum, WA 

$9,750,000  

George Smith Partners successfully arranged $9,750,000 in construction financing for the ground-up development of a workforce housing community in Cle Elum, Washington, a supply-constrained mountain town adjacent to the Suncadia Resort. 

The loan is structured as a five-year construction-to-permanent facility with no prepayment penalty, offering flexibility through stabilization and permanent execution. 

Loan Term: 5 Year Term (Construction to Perm)
LTC: 70%
Interest Rate: 6.75%
Prepayment Terms: No prepayment penalty

Financing Team

Matthew Fisher

Senior Director

Grant Pugatch

Vice President

Martha Martinez

Assistant Vice President – Capital Markets & Loan Servicing