Portland (March 27, 2018) – CBRE is pleased to announce the sale of Bridgetown Lofts, a mid-rise apartment community to Madison Park Financial Corporation for $55,000,000.
Joe Nydahl , Phil Oester and Josh McDonald of CBRE’s Northwest Multifamily Institutional Investment team negotiated the sale on behalf of the seller, Portland Guild Loft Partners, LLC.Brian Eisendrath with CBRE Capital Markets’ Debt & Structured Finance arranged the seven-year fixed rate loan with three years interest-only payments through Freddie Mac.
“The Bridgetown Lofts transaction indicates a continuation of investors’ interest for high quality developments in the Portland Multifamily Market. Fore crafted a high-quality waterfront project with iconic views and stellar finishes,” says Joe Nydahl, lead broker for The Bridgetown Lofts transaction.
Bridgetown Lofts is Portland’s signature mid-rise waterfront community located along the Willamette River in Portland’s vibrant Pearl District. Comprised of 149 units with modern finishes and features such as oversized windows featuring expansive waterfront views, stainless-steel appliances, euro-style cabinetry, quartz countertops, fitness center, community lounge and courtyard with a fire pit, gas grills and a putting green, the property offers an incredible match for the area’s expanding affluent tenant base. There are hundreds of walkable restaurants and recreation options nearby.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.