$39M Residential Development Lands in Portland, OR

Harbor Sky LLC has obtained a $39.5M construction loan for the development of a 266-unit apartment building located in Portland, OR. The eighteen month construction loan secured by a 1st trust deed was arranged by Parkview Financial. Construction is expected to be completed in 2019. The Property will consist of a 6-story, 266-unit apartment building with ground floor podium parking. There will be 217,683 SF of total rentable living area across the 266 residences which will range from 689 SF to 1,457 SF, and have several different configurations from 1bd/1ba alcoves, which are an open 1 bedroom layout, to 2bd/2ba penthouses.