Parkview Financial has provided $19 million leasehold financing to Ethos Development for the construction of a seven-story, 134-unit multifamily project in Portland, OR. As part of the transaction, Ethos sold the 0.36-acre development site it purchased in 2020 to Montgomery Street Partners, and proceeds from the sale will be allocated to construction costs.

The community is planned for 106 studio, one-, two- and three-bedroom units featuring plank flooring, quartz counters and wood cabinets. Amenities include secured access, parcel lockers, a fitness room and an outdoor courtyard.

“Parkview saw this as a favorable opportunity to provide construction financing for this high-quality multifamily project,” said Paul Rahimian, CEO of Parkview Financial. “The site is in an infill area with older homes and a high-demand for new product from renters. We see that demand continuing to strengthen.”

The property is located at 1835 N Flint Ave in the Lloyd District of Portland, an area historically industrial, but recently transformed by creative office users.