47
PORTLAND, ORE. — Northmarq has secured a $26.4 million loan on behalf of Fairfield for the refinancing of 735 St. Clair, an apartment property in Portland’s Goose Hollow neighborhood. The 24-story building features 212 studio, one- and two-bedroom apartments ranging from 650 square feet to more than 1,000 square feet.
Joe Giordani, Scott Botsford, Brendan Golding, Alvin Cao and Stuart Oswald of Northmarq’s Newport Beach, Calif., and Seattle Debt + Equity teams arranged the permanent fixed-rate refinance loan through Northmarq’s direct Freddie Mac lender partnership. The loan features a five-year fixed term with three years of interest-only payments and a 35-year amortization schedule.