REBusinessOnline

RIVERPLACE SQUARE APARTMENTS IN PORTLAND RECEIVES $54M IN FINANCING

PORTLAND, ORE. – The 290-unit RiverPlace Square Apartments in Portland has received $54 million in financing. The joint venture between Cardinal Group Investments LLC and Fundamental Advisors LP obtained a $44.5-million loan that was placed with a national bank, as well as a $9.5-million mezzanine loan with a mortgage REIT. The loan proceeds were used to acquire the property. The community is located at 2083 SW River Drive. The JV plans to renovate and rebrand the property as Mint Urban. Financing was arranged by HFF’s Pat Burger, Tim Wright and Tom Wilson.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

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