The Capital Services Group of GREA (Global Real Estate Advisors) has arranged financing for three multifamily properties in Oregon.
The transactions were secured by a GREA Capital Services team that included Director Anthony Priest and Senior Director Matt Swerdlow, who are based in the New York City Office.
The transactions included:
- A $7,025,000 acquisition loan for a 62,213-square foot, 78-unit apartment building in Portland. Terms of the five-year, non-recourse bank loan, which closed in 33 business days, included a 6.28% rate and a 30-year amortization. Jack Stephens, a Partner in GREA’s Portland Office, and Yuriy Chubok, a Broker, arranged the sale.
- A $1,400,000 loan for a repeat borrower acquiring a 10,610-square-foot 19-unit apartment building in Salem. Terms of the five-year non-recourse bank loan included 70% LTV and a 30-year amortization.
- A $1,045,000 refinance loan for a 9,447-square-foot, 10-unit building in Salem. The ten-year cash out refinance bank loan for a repeat borrower featured a 30-year amortization. Although the property was purchased less than a year before, the team was able to cash out the borrower above the initial purchase price.
“This series of successful transactions really highlights the strength and synergy of the GREA network,” Priest said. “By combining our Capital Services team’s financing capabilities with the invaluable local market expertise of our Portland office, we were able to deliver tailored financing solutions to clients across Oregon. Whether it was executing a $7 million acquisition loan in Portland in just 33 business days or structuring flexible non-recourse terms for a client in Salem, this cross-office collaboration allowed us to seamlessly navigate complex timelines and unlock maximum value for our borrowers.”
About GREA
GREA is a full-service national investment sales and capital services platform operating across 13 offices with a 100+ person team and generating $12 billion in recent sales. United by a shared mission, the offices maintain the relentless determination of boutique firms while offering our clients national expertise and reach. For more information, visit www.grea.com.
About GREA Capital Services
Based out of the New York City office of GREA partner, Ariel Property Advisors, the dynamic Capital Services Group has a decade of success arranging financing for over 300 commercial assets including multifamily, affordable, mixed-use, retail, office, hospitality and development properties located throughout the country.