Greystone Provides $97.2M Refinancing for Deveraux Glen Apartments Near Portland

by Amy Works

BEAVERTON, ORE. — Greystone has provided a $97.2 million HUD 223(f) loan to refinance Deveraux Glen Apartments in Beaverton. Melvin Mark Capital Group brought the opportunity to Greystone for the borrower, Peterkort Residential I.

Constructed in 2007, Deveraux Glen Apartments features 34 detached and semi-detached townhouse walk-up buildings consisting of one-, two-, three- and four-bedroom units.

The fixed-rate loan carries a 35-year term and amortization, with a 65 percent loan-to-value ratio. Additionally, the property qualifies for a 25-basis-point reduction in mortgage insurance premium for achieving green standards.

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