As optimism continues to gain momentum in commercial real estate – in the Pacific Northwest and across the country – financing and refinancing agreements are on the rise.
In Portland, OR, a 110-unit apartment property has fresh financing from Institutional Property Advisors in the sum of $27.7 million. (IPA is a division of Marcus & Millchap.)
Part of a continuing strategy to address the increase of new residents and workers to Portland, IPA’s Anita Paryani said, “The property has benefited from Portland’s rapid appreciation amid a major influx of people and business, despite being completed at the start of the pandemic. The loan provides the borrower flexibility to maximize returns over time as markets continue to improve.”