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October 23, 2018
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Construction of Portland Res Development Financed with $63.5 Mil Loan


Construction of a seven-story, 162-unit condominium project located off NE Multnomah in Portland, OR has gotten underway thanks to $63.5 mil in financing provided by Canyon Partners Real Estate LLC®. The new project is being built by PHK Development Inc.

The development, centrally located at the convergence of the Lloyd District and Sullivan’s Gulch, will offer residents views of downtown Portland and the Cascade mountain range. When complete, the architecturally-distinctive project will comprise a mix of one-bedroom, two-bedroom, and penthouse units.

The apartments will feature up to 11’ ceilings, high-end finishes, and an assortment of amenities, including 24-hour concierge service, fitness center, guest suite, bicycle lounge, pet wash, club lounge and outdoor amenity deck. Unit finishes will be top of the line and feature high end appliances, solid surface quartz countertops, in-unit washer/dryers, and central air conditioning. Additionally, about a third of the units will have outdoor patios or balconies.

This is Canyon’s first condominium investment in the Portland metro area. The loan was arranged by Tom Wilson and Bryan Clark with HFF.

This will be one of the first new construction condominium offerings to be built in Portland this cycle. The project is currently under construction and scheduled to deliver in late 2019.

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