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2590 NW Upshur St Portland,...

Updated Oct 29, 2024

Urban Development Group Refinances 146-Unit Multifamily Property In Portland, OR With $24.9M Loan From Dwight Capital. Brokers: Ken McBride & Matt McBride - McBride Capital
FINANCEDMultiFamily

Urban Development Group Refinances 146-Unit Multifamily Property In Portland, OR With $24.9M Loan From Dwight Capital. Brokers: Ken McBride & Matt McBride - McBride Capital

2590 NW Upshur St Portland, OR 97210, USA

$24,900,000

Units

146

Asset Type

MultiFamily

Closing

Dec 8, 2022

About this deal

AI

The property involved in this transaction is a multifamily asset located at 2590 NW Upshur St in Portland, OR. It consists of 146 units. The loan for this property was provided by Dwight Capital for a total amount of $24,900,000. The purpose of the loan was to refinance the property. The landlord of this asset is Urban Development Group. The brokers involved in this deal are Ken McBride and Matt McBride from McBride Capital.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $24,900,000
  • Address: 2590 NW Upshur St, Portland, OR
  • Market: Portland, OR
  • Units: 146
  • Lender: Dwight Capital
  • Landlord: Urban Development Group
  • Brokers: Ken McBride & Matt McBride - McBride Capital
  • Loan Type: Refinance

The transaction was facilitated by Ken McBride and Matt McBride from McBride Capital. They represented the parties involved in the deal, but they were not the buyers, sellers, landlords, or tenants. The loan provided by Dwight Capital will enable Urban Development Group to refinance the multifamily property located at 2590 NW Upshur St in Portland, OR.

Players

Kenneth McBride

McBride Capital

Broker

$68.9M

vol

2 deals

Broker
Dwight Capital
Dwight CapitalLender

Portland MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $170.5K per unit across 146 units on a published $24.9M (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.64%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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