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
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
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
0.64%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93