Updated Aug 12, 2026
FINANCEDMultiFamily
ColRich Secures $40.5 Million Refinance Loan For 162-Unit Multifamily Property In Portland
2020 Northeast Multnomah Street
$40,500,000
Units
162
Asset Type
MultiFamily
Closing
Aug 11, 2026
About this deal
AI
The Payton is a 162-unit Class A+ multifamily property located at 2020 Northeast Multnomah Street in Portland, OR. The property was refinanced with a loan amount of $40,500,000, facilitated through a five-year floating-rate loan. Prime Finance served as the lender for this transaction.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $40,500,000
- Loan Type: Refinance
- Lender: Prime Finance
- Landlord: ColRich
- Brokers: Aldon Cole, Jimmy Conley, Brock Knapp, Sean O’Brien, Ben Choromanski & Matthew Payamps - JLL
JLL Capital Markets was responsible for securing the refinancing for ColRich, representing their interests in the transaction. This loan enables the continued management and operation of The Payton multifamily property in the Portland market.
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
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93