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PCCP Provides $45 Million Loan To Alamo Manhattan And MetLife For Portland Multifamily Property
FINANCED
$45,000,000
Oregon
See Similar DealsMultiFamily
Financed 07/08/2024
FINANCED
PCCP Provides $45 Million Loan To Alamo Manhattan And MetLife For Portland Multifamily Property
3883 South Moody Avenue
See Similar DealsMultiFamily
Financed 07/08/2024
Summary
OREGON
Asset Type:MultiFamily
Transaction Type:Loan
The Dylan is a multifamily property located at 3883 South Moody Avenue, Portland, OR, featuring a total of 232 units and ground-floor retail space. The property is part of the vibrant South Waterfront district.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $45,000,000
- Lender: Pacific Coast Capital Partners (PCCP)
- Lender's Representative: Matt Cochran
- Landlord: Alamo Manhattan & MetLife Investment Management (MIM)
- Loan Date: 07/08/2024
The transaction involved a senior loan provision from Pacific Coast Capital Partners to refinance The Dylan, indicating a strategic financial move for the owners, Alamo Manhattan and MetLife Investment Management.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$45,000,000.00
Monthly NOI$300,000.00
Monthly Debt Service$284,430.61
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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