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9/02/25
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Hazel Dell Marketplace, a grocery anchored center in Vancouver, WA, was refinanced with a new permanent loan for $27.8 mil. The center sits on 28 acres at 408 - 512 NE 81st St, just west of I-5.
The complex consists of 227.7k sf of space across 11 buildings. Big box tenants at the center include Safeway, Ross, Marshalls, and Parkrose Hardware, along with a wide range of inline and free-standing pad restaurant, professional service, beauty, and health and wellness tenants.
Blake Hering and Abi Hunter with Gantry arranged the loan on behalf of the borrower, a family office owner and developer partnership between two well established family office groups. The fixed rate, ten-year loan was funded through a life company lender and features an introductory interest-only period and then a 30-year amortization at an attractive rate well within debt service coverage. Gantry will service the loan.
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