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2/07/25
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AVATAR FINANCIAL GROUP -- Avatar Financial Group LLC has provided a $56 mil loan for Williams Village, an infill redevelopment project in Boulder, CO. The two-year loan allows the borrower to buy out two remaining ground leases and get the site fully entitled for redevelopment. The borrower was George Williams LLLP, comprised of members of the Williams Family, which currently owns the various parcels/properties. The Williams Village project aims to transform an aging strip retail center and parking lot near the University of Colorado Boulder’s campus into a vibrant, mixed-use neighborhood. At full buildout, the high-density project will include up to 600 units of workforce and student housing and more than 90k sf of community-serving retail and restaurants, and public parks, plazas, and open spaces. With six buildings to be developed over the next three years, the development features a pedestrian-friendly design and sustainable features like all-electric buildings to meet Boulder’s energy and climate goals. The sale of the first Williams Village land parcel is set to close in late 2025, at which time all entitlements and final site plans are expected to be completed and approved by the City of Boulder. Phase 1 will deliver the project’s student housing component, followed soon by Phase 2, which calls for the development of multifamily, retail, and parking components. The final phase of the mixed-use project is planned for a later date.
735 St. Clair, Portland, OR |
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NORTHMARQ -- Joe Giordani, Scott Botsford, Brendan Golding, Alvin Cao and Stuart Oswald with Northmarq secured a $26.4 mil refinancing of a 212-unit apartment community located at 735 St. Clair in Portland, OR on behalf of Fairfield. The property is located in the desirable Goose Hollow neighborhood in southwest Portland and features studio, one- and two-bedroom apartments ranging from 650 sf to over 1k sf. Residents have easy access to greater Portland via the nearby MAX light rail, Portland Street and multiple city bus stops. The loan has a five-year fixed term with three years interest-only and a 35-year amortization schedule to maximize proceeds. The prepayment penalty was structured as yield maintenance for the first three years and 1% for the last two years to provide flexibility.
METROGROUP REALTY FINANCE -- MetroGroup Realty Finance provided a $24 mil loan for the refinancing of a 228k sf, single-tenant, owner-occupied manufacturing facility located at 2200 S Reservoir St in Pomona. The financing, which was overseen by MetroGroup’s Ivan Kustic, was used to retire the existing loan and provide additional liquidity to the business.
GANTRY -- Blake Hering and Abi Hunter with Gantry secured a $23 mil permanent loan to refinance the Mission Hills Apartments located at 11900 NE 18th St in Vancouver. The property includes 556 units in a garden-style format, featuring a mix of one-, two-, and three-bedroom units in multiple buildings on approximately 33 acres. The project includes a club house, pool & spa, and other Class A amenities. This loan retires two maturing loans placed on different phases of the property. The 10-year, fixed rate loan was funded through a life company lender and features non-recourse terms and a 30-year amortization.
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