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August 12, 2020 Comments Off on Canyon Partners, SKB Invest in Tigard Triangle Opportunity Zone MF Views: 609 Portland, Seattle & Pacific Northwest News

Canyon Partners, SKB Invest in Tigard Triangle Opportunity Zone MF

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Canyon Partners Real Estate LLC, ScanlanKemperBard Companies (SKB) and Diamond Investment Group formed a JV to develop The Overland, a 219-unit apartment project in Tigard. Canyon invested $24.4 million of equity into this project, which is located in a qualified opportunity zone.

The JV also secured a construction loan from Bank OZK. SKB is the lead project sponsor and developer, spearheading a team including DIG and Greenlight Development. It is SKB’s first Opportunity Zone development.

The project consists of a mix of studio, one-, two-, and three-bedroom units, in addition to ground floor retail space. Community amenities will include an outdoor courtyard, fitness center, and secure parking.

Construction is set to commence immediately with delivery slated in the summer of 2022. The site is located in the Tigard Triangle at the northeast corner of SW Dartmouth Street and SW 72nd Avenue.

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