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Canyon Partners Makes $63.5M Investment in PDX Condo Dev
Los Angeles-based Canyon Partners Real Estate LLC provided a $63.5 million senior loan to an affiliate of PHK Development, Inc. to finance the ground-up construction of a seven-story, 162-unit condominium project in Portland, OR. This is Canyon’s first condominium investment in the Portland metro area.
This site is centrally located at Northeast 21st Ave., off NE Multnomah, at the convergence of the Lloyd District and Sullivan’s Gulch with views of downtown Portland and the Cascade mountain range. Though construction timing was undisclosed, earlier plans by PDX architecture firm Hacker depicted a modern structure (pictured).
The architecturally-distinctive project will comprise a mix of one-bedroom, two-bedroom, and penthouse units featuring up to 11-foot ceilings, high-end finishes, and an assortment of amenities, including 24-hour concierge service, fitness center, guest suite, bicycle lounge, pet wash, club lounge and outdoor amenity deck.
HFF’s Tom Wilson and Bryan Clark arranged the financing.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development


