Updated Oct 28, 2024
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
About this deal
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.
The multifamily loan at 3185 N Williams Ave, Portland, OR, USA in Portland, Oregon financed for $42M in 2021. Reported inventory is 66,378 square feet across 215 units, or about 632 per square foot. Cameron Huard, Curated Real Estate Capital appear on the loan alongside Curated Real Estate Capital. This page is the Portland, Oregon file for the 3185 N Williams Ave, Portland, OR, USA multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Portland sit in the Market section below. Filter that Portland multifamily set by closing date to see what else financed near 3185 N Williams Ave, Portland, OR, USA around 2021. Published consideration for 3185 N Williams Ave, Portland, OR, USA is $42M, dated 2021. Cite this Vibrant Cities Secures $42M Construction Loan For Multifamily Development On N. Williams Ave loan when underwriting similar multifamily product around Portland, Oregon.
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Portland MultiFamily Market Snapshot
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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