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5/07/26
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A private investment group has obtained permanent loans totaling $27 mil for two stabilized, high-quality suburban apartment communities in Oregon. The mature, actively maintained garden-style properties, Main Street Village in Tigard and The Ridge at Mountain Park in Lake Oswego, total 373-units and feature a range of amenities including swimming pools, club houses and covered parking and/or garages.
Main Street Village, Tigard, OR |
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Gantry’s Blake Hering, Principal, and Kristin Lapinskas, Senior Associate, with the firm’s Portland production office arranged the financings. Both seven-year, fixed-rate, non-recourse loans were provided by insurance company lenders and include either full-term or partial-term interest-only payments. Gantry will service the loans on behalf of the lender.
According to Hering, the borrower is retiring maturing debt from two well established, high-quality, garden-style communities. The inclusion of full or partial-term interest-only payment structures from these new loans have positioned the properties for a continued legacy hold. The loans optimize cash flows, reward stabilized occupancy, and reflect investments in active management.
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