DEAL OF THE DAY: 185-Unit Property Receives $32.90M Loan

By Katelyn McWatters, Editorial InternLos Angeles–Holliday Fenoglio Fowler L.P. recently arranged a $32.98 million financing for Harrison Tower Apartments in downtown Portland, Ore. The loan is a three-year, adjustable rate loan with a private west coast-based bridge lender. The 185-unit multifamily community is located at 222 Southwest Harrison in close proximity to Northwest 23rd District, Pearl District and South Waterfront. The 100 percent vacant property features 24 stories with 176-newly renovated units. JMB plans to remodel the tower further by renovating the nine attached townhouse units as well as constructing a new fitness center.