Security Properties has secured $71 million in refinancing for Peloton Apartments, a 265-unit community in Portland, Ore. Cushman & Wakefield arranged the loan provided by Hangang Asset Management on behalf of Woori Bank & KEB Hana Bank.
Completed in 2018, the community comprises three mid-story buildings with studio, one- and two-bedroom floorplans, as well as live-work units, varying from 464 to 1,599 square feet with stainless steel appliances, quartz countertops, in-unit washer and dryer and balconies for select units. Common-area amenities include an outdoor fire pit, fitness club, rooftop deck, chef’s kitchen and bike storage room.
Located at 4141 N. Williams Ave., the community is next to numerous dining options and within half a mile of some retail options, including New Seasons Market. Some green areas, such as Irving Park and Denorval Unthank City Park, are within one mile of the property.
Cushman & Wakefield’s Executive Managing Director Dave Karson, Senior Managing Director Chris Moyer and Senior Director Alex Lapidus, alongside Meredith Donovan, worked on the transaction. Karson and Moyer recently represented Legacy Partners to secure joint venture equity from New York Life Real Estate Investors for the construction of Bellevue Station, a 288-unit development in Bellevue, Wash.