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Seattle & Northwest  + Portland  + Retail  | 

Mosaic Funds $460M PDX MXU Dev, One of Largest in U.S. This Year

BPM Real Estate Group secured $460 million in senior construction financing for a one-million-square-foot, mixed-use development in downtown Portland. The nearly $600-million, 35-story, Block 216 incorporates a mix of uses including 160,000 square feet of Class A office space, a 251-key Ritz-Carlton Hotel, the first five-star hotel in Portland, 138 Ritz-Carlton-branded residences and 7,800 square feet of ground level retail.   

An affiliate of Mosaic Real Estate Investors provided the financing that was arranged by George Smith Partners’ Malcolm Davies and Zachary Streit.

Mosaic’s Alex Ovalle says, “The high-leverage loan request, in and of itself, made this a very complex financing. It was made even more complicated given that it is also the first development of its kind in Portland to offer this mix of uses.”

Portland-based BPM will formally break ground this summer on a full city block in the heart of Portland’s CBD. Construction is expected to be completed in 2023.

Connect Bay Area is coming up July 18, 2019 at the Grand Hyatt San Francisco. Get more information, and register to attend on this link.

For comments, questions or concerns, please contact Dennis Kaiser

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Inside The Story

Connect With BPM Real Estate GroupConnect With Mosaic Real Estate Investors’ OvalleConnect With George Smith Partners’ Davies

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
  • ◦Development
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