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Walmart-Anchored Retail Property in Portland Secures $14M Refinancing
Gantry has secured a $13.65 million permanent loan to refinance maturing debt for Parkway Village at Sherwood, located at 21174-21430 SW Langer Farm Parkway in Sherwood, a Portland suburb approximately 15 miles from the city center.
The 45,653-square-foot center is anchored by Walmart and features tenants such as Starbucks, Chipotle, The Old Spaghetti Factory, Panera Bread, Crumbl Cookies, Club Pilates, and Legacy GoHealth Urgent Care.
Gantry’s Blake Hering, Principal, and Kristin Lapinskas, Senior Associate, with the firm’s Portland production office, represented the borrower, a private real estate investor. The seven-year, fixed-rate, non-recourse loan was secured with 30-year amortization. Gantry will service the loan.
“Gantry’s life company correspondents continue to be a consistent source for high-quality loans with substantial allocations available for stabilized grocery-anchored and neighborhood retail centers where debt service aligns,” said Hering.
