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6/07/21
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Holland Partner Group refinanced Kado NW, a recently constructed, 196-unit multifamily community in Portland, with a new loan of $49.4 mil.
Located at 1378 NW 18th Ave in Portland’s central business district, the project was completed in 2019. The unit mix is comprised of studios, as well as one-, two- and three-bedroom apartments. Community amenities include a library, courtyard terrace with firepits and barbecues, fitness center and pet washing station.
The property is within walking distance of dozens of Portland’s most popular dining, retail and entertainment destinations. Kado NW is two blocks from I-405, connecting the area to the rest of the Portland metropolitan area.
Nick Santangelo of CBRE arranged the loan on behalf of Vancouver, WA-based Holland Partner group, the owner and developer of the property. Accoring to Santangelo, the loan refinances the developer's construction debt with near-term capital at an accretive rate and structure.
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