Parkview Provides $55M Loan for Oregon Multifamily Project
Stacy Allison Way Holdings, LLC, an entity of West Coast Home Solutions, has secured a $55 million refinance and construction loan for a two-phased, 586-unit multifamily complex in Woodburn, OR. Parkview Financial provided the loan for the project, located about 30 miles south of Portland, with delivery of phase one expected in early 2024.
“This is Parkview’s third financing project with West Coast Home Solutions, an experienced Oregon-based developer,” said Parkview CEO Paul Rahimian. “We believe this project will help alleviate some of the pent-up housing demand in Woodburn and nearby cities.”
Phase one of the development, called Allison Summit, encompasses seven, three-story buildings and a clubhouse in a garden-style design and consists of one-, two- and three-bedroom units. The residences feature patios/balconies, plank flooring and stainless steel appliances. Located just off Interstate 5, the property is within walking distance from the 3.8 million-square-foot, under-construction Amazon Distribution Center slated for completion in 2024.
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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