NOMAD Bridge Provides Time to Season for an Institutional Sale
Bridge financing of $25.5 million was recently arranged to refinance NOMAD, a 130-unit newly constructed multifamily property in Portland. The non-recourse debt facility provided substantial cash-out to sponsors, while maintaining a rate in the low 3 percent’s.
The loan features a three-year term with two one-year extensions, providing time to season the property for an institutional sale. Danny Natsch and Matt Illias of Ethos Commercial Advisors placed the debt on behalf of an unidentified sponsor.
The property features ground-floor common area, off-street parking, bike storage, gym and rooftop deck.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.