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Walker & Dunlop Arranges $52M Bridge Loan for Beaverton MF
Walker & Dunlop arranged bridge financing in the amount of $51,884,493 for The Rise Central, a newly built, 230-unit apartment project in downtown Beaverton. The property is owned by Boca Raton, FL-based Rescore Property Corp and located in a burgeoning business district less than ten miles from downtown Portland.
The floating rate loan includes a two-year initial term plus a one-year extension option and will provide the owners with sufficient time to complete property lease-up, which was 82% leased at close. The loan was bifurcated into a senior loan from JCR Capital and a mezzanine loan provided by a third-party partner.
Walker & Dunlop’s Eric McGlynn handled the transaction, working closely with JCR Capital’s Ryan Welch and Brian Cornell.
The property is near the Central MAX light-rail station, amenities and major employers including Nike and Intel. It is also close to Beaverton Town Square and Cedar Hills Crossing retail centers.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development


