Portland Multifamily Secures $51M Construction Financing
PCCP, LLC has provided Pahlisch Commercial a $51 million senior loan for the ground-up construction of Henley Place, a 178-unit multifamily community in Milwaukie, OR. Completion of the asset is expected in early 2024.
“Pahlisch Commercial is an experienced Pacific Northwest real estate development company,” said PCCP’s Senior VP Matthew Cochran. “We are pleased to provide financing on this Class A multifamily project in Milwaukie, an accessible and affordable suburban submarket of Portland.”
Henley Place is situated on a 1.9-acre site and will have many amenities including indoor and outdoor lounges, a fitness studio, bike parking and a library. Unit interiors will focus on wellness, and feature vinyl plank flooring, quartz countertops, wood cabinets and stainless steel appliances. In addition, the property is proximate to Highway 224 and a light rail station, both of which provide easy access to downtown Portland.
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.