Seattle & Northwest + Portland + Finance | May 4, 2022

Cushman & Wakefield Arranges $71M Refinancing for Portland Multifamily Complex

The Peloton Apartments, a 265-unit, three-building multifamily community in Portland OR has secured a $71 million refinance, solely advised by Cushman and Wakefield. Hangang Asset Management provided the loan on behalf of Woori Bank and KEB Hana Bank. The building name, “Peloton”, means a group of bike riders, paying homage to the neighborhood’s popular bike culture.

“Peloton Apartments has performed exceptionally well throughout the COVID-19 pandemic, averaging over 96% occupancy,” said Cushman & Wakefield’s Dave Karson, who led the team of Chris Moyer, Alex Lapidus and Meredith Donovan in the transaction. Said Moyer, “Peloton’s North Williams District location is one of the most dynamic neighborhoods in Portland.”

The Peloton Apartments community on North Williams Avenue features studio one-bed and two-bed layouts, in addition to live/work units. Amenities include a fitness club, rooftop deck, outdoor firepit, secured underground parking and spacious bike storage.

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Cushman & WakefieldDave Karson

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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