Clarity Real Estate Receives $18.2M in Refinancing for Creative Office Asset in Portland

PORTLAND, ORE. — Canada-based Clarity Real Estate and its affiliated private equity fund received an $18.2 million bridge loan for the refinancing of 1500, a five-story creative office building located at 1500 NE Irving St. in Portland.

Originally built in 1965, the 73,274-square-foot building was fully renovated into creative office space this year. The repositioned property features 10-foot windows, exposed ceilings, polished concrete floors and full-floor availability on the second floor. On-site amenities include a fitness center with shower facilities, conference room, bike room, tenant lounge and 100 parking stalls.

Zack Holderman, Zach Kersten and Daniel Pinkus of JLL arranged the 36-monnth, floating-rate loan for the borrower.