OREGON CITY, ORE. — Dwight Capital, on behalf of Pahlisch Commercial, has financed $39 million in HUD 223(f) refinancing for Timberview Apartments in Oregon City. Andrew Tichy of Dwight Capital originated the transaction, which was arranged by McBride Capital. Loan proceeds will be used to retire a bridge loan provided by Dwight Mortgage Trust, cover closing costs and establish a replacement reserve account for future capital improvements.
Situated on 7 acres, Timberview Apartments features 174 units. The community consists of three buildings with 141 single-story units and seven buildings with 33 townhome units and attached single-car garages. Units feature stainless steel appliances, quartz countertops, full-size washers and dryers and private patios or balconies. Onsite amenities include a single-story clubhouse with a leasing office, six detached garage buildings, pool with sundeck, fitness center, resident lounge with fireplace, bike repair and wash station, dog wash and playground.