Updated Feb 16, 2024
Stormfield Capital Provides $3.75M Bridge Loan For Multifamily Property In Portland, OR
1809 Northeast 26th Avenue, Portland, OR, USA
$3,750,000
$953/SF
Building Size
3,934 SF
Asset Type
MultiFamily
Closing
Nov 8, 2021
About this deal
AI
A bridge loan for a multifamily property in Portland, Oregon has been closed by Stormfield Capital. The property, located at 1809 26th St, consists of 103 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,750,000
- Loan Type: Bridge loan
- Loan Term: 1 Year Bridge
Kyle Shea from Stormfield Capital acted as the lender for this transaction, providing the bridge loan. The loan was secured by Brooke Torres, the landlord of the multifamily property. American Enterprise & Associates served as the brokers in this deal, facilitating the transaction between the lender and landlord.
Note from Stormfield Capital: This mobile home park loan was successfully closed in just 5 business days.
Players
Portland MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.23%
Cash-on-Cash
-1.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93