Vibrant Cities Secures $42M Construction Loan For Multifamily Development On N. Williams Ave
3185 N Williams Ave, Portland, OR, USA
$42,000,000
$632/SF
Building Size
66,378 SF
Asset Type
MultiFamily
Closing
Sep 24, 2021
AI
Located at 3185 N. Williams Ave. in Portland, Oregon, this multifamily property spans over 66,378 square feet and consists of 215 units. The property, owned by Vibrant Cities, is part of a closed transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $42,000,000
- Loan Type: Construction
- Loan Terms: Non-recourse, 85 LTC
Builders Capital served as the lender in this transaction. Cameron Huard from WelcomeLend represented the landlord, Vibrant Cities, in the deal.
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
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93