Portland, OR – May 2, 2016 – CBRE is pleased to announce the successful arrangement of a $4,830,000 loan for the Harvest Court Industrial - a 76,541 square foot industrial asset located in Beaverton, Oregon.
Nick Santangelo from CBRE Portland’s Debt & Structured Finance team arranged financing for the asset. Securing a 15-year fixed rate loan with 25-year amortization at 4.11% on behalf of the ownership – Pacific NW Properties.
The property was built in 2000 and sits on a 5.56 acres. The building has 23 dock high doors, 10 grade level doors and a clear height of 24’. The stabilized asset is supported by strong tenants and an experienced borrower.
Vacancies for the Portland industrial market continue to drop with demand outpacing supply. This dynamic is placing continued upward pressure on rents across all submarkets.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
Nick Santangelo from CBRE Portland’s Debt & Structured Finance team arranged financing for the asset. Securing a 15-year fixed rate loan with 25-year amortization at 4.11% on behalf of the ownership – Pacific NW Properties.
The property was built in 2000 and sits on a 5.56 acres. The building has 23 dock high doors, 10 grade level doors and a clear height of 24’. The stabilized asset is supported by strong tenants and an experienced borrower.
Vacancies for the Portland industrial market continue to drop with demand outpacing supply. This dynamic is placing continued upward pressure on rents across all submarkets.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
