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Oregon Multifamily Secures Acquisition Financing
Gantry has secured a permanent loan to fund the acquisition of the Sonder Fields Apartments, a class A multifamily complex located at 14798 SE Parklane Drive in Happy Valley, Oregon, a Portland MSA suburb.
The property features 180 units in eight garden-style buildings offering a mix of one-, two-, and three-bedroom floorplans across eight acres. A partial list of amenities includes a clubhouse, co-working spaces, pool and spa, fitness center, EV charging stations, in-unit washer/dryer, and covered parking.
Gantry’s Blake Hering, Principal, and Abi Hunter, Associate, with the firm’s Portland production office, secured the loan on behalf of the borrower. The 12-year, fixed-rate loan was provided by one of Gantry’s insurance company correspondents with 30-year amortization and later-term prepayment flexibility. “The market is beginning to transact again as loan maturities and price discovery begin to align values for buyers and sellers,” said Hering.
