Institutional Property Advisors (IPA), Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the $27.7 million financing for a five-story, 110-unit multifamily property in Portland MSA, Oregon. The financing was arranged by IPA’s Anita Paryani, senior managing director.
“The property has benefited from Portland’s rapid appreciation amid a major influx of people and business, despite being completed at the start of the pandemic,” said Paryani. “The loan provides the borrower flexibility to maximize returns over time as markets continue to improve.”
The 70-percent LTV/90% loan to cost loan is structured with a 36-month term plus options and a floating 2.99 percent interest rate.
