March 29, 2018
Bridgetown Lofts, a mid-rise apartment community in Portland, OR’s Pearl District was acquired by Madison Park Financial Corporation for $55 million. The seller was Portland Guild Loft Partners, LLC.
The signature mid-rise waterfront community located along the Willamette River is comprised of 149 units. The property has modern finishes, and includes such features as oversized windows offering expansive waterfront views.
CBRE’s Joe Nydahl, Phil Oester and Josh McDonald represented the seller. CBRE’s Brian Eisendrath arranged the seven-year fixed rate loan with three years’ interest-only payments through Freddie Mac.
Nydahl says, “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.”
For comments, questions or concerns, please contact Dennis Kaiser