Posted Jan 7, 2016, 8:15 PM
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Moderator
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Join Date: Jan 2009
Location: Portland
Posts: 7,445
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Quote:
$41.6M lined up for new apartment project in the Pearl District
A 136-unit apartment project coming to Northwest Couch Street and Ninth Avenue has landed $41.6 million in construction financing that will help ensure its delivery by the third quarter of 2017.
Urban Asset Advisors, a local firm founded by longtime broker Tim O'Brien almost three years ago, is building the Couch 9 mixed-use project in the Pearl District near the Brewery Blocks. It will offer 136 apartments, ranging from studios to three-bedroom units.
The units will average 737 square feet, according to information in a release provided by Holliday Fenoglio Fowler, L.P.
HFF arranged a $41.6 million construction loan for the development, which will also include 5,258 square feet of ground floor retail. HFF secured the construction loan through a non-local debt fund.
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...continues at the Portland Business Journal.
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