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PCCP Provides $45M Senior Loan to Refinance MF Asset in Portland
PCCP, LLC has provided a $45 million senior loan to a joint venture between Alamo Manhattan and MetLife Investment Management (MIM) for the refinance of The Dylan, a 232-unit multifamily asset in Portland, Oregon.
A JLL team led by Executive Managing Director Charles Halladay and Director Charlie Watson worked on behalf of Alamo Manhattan and MetLife Investment Management to secure the non-recourse loan.
“PCCP is pleased to refinance this recently constructed apartment community for Alamo Manhattan and MIM,” said Matt Cochran, Managing Director with PCCP. “We believe The Dylan appeals to residents as it is located in one of Portland’s most desirable neighborhoods proximate to a variety of amenities and provides residents with immediate access to employers such as OHSU.”
Built in 2022 and situated on just over one acre, The Dylan is an eight-story property in Portland’s South Waterfront district and features a unit mix of 19 studios, 185 one-bedrooms, and 28 two-bedrooms.
