Ethos Commercial Advisors Arranges $22M Financing for Salem MF
Ethos Commercial Advisors secured construction financing for The Citizen, a 105-unit multifamily property spanning 64,397 square feet in Salem, Oregon.
Located in the heart of downtown, The Citizen provides proximity to major employers in the state’s capital, including the State of Oregon and Salem Health. The project broke ground shortly after closing and is expected to deliver in spring 2027. Daniel Natsch and Matthew Illias of Ethos Commercial Advisors originated a $22 million, 36-month construction loan at an 82% loan-to-cost ratio.
The developer, Deacon Development, plans to build a 105-unit, mixed-use apartment building on the site, which received approval for a six-story building from the city earlier this year. Until demolition in 1972, the parking lot was the original location of the old Salem City Hall.
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80-Unit Seniors Housing Development Opens in Suburban Chicago
Leyden Senior Apartments, a new four-story independent senior living development in Franklin Park, recently opened. Located at 2506 N. Mannheim Road, Leyden Senior Apartments offers one- and two-bedroom residences. The adjacent newly constructed Carl Fiorito Senior Center will be available to the entire community. Owned by Leyden Apartments LP, Leyden Senior Apartments was designed by...
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312-Unit Multifamily in Indiana Changes Hands
Northmarq’s Investment Sales team, led by Bobby Schiavone, Jordan Arand and Adam Klenk, led the sale of The Bend Apartments, a 312-unit garden apartment community located at 1909 Greentree Blvd. in Clarksville, Indiana. Northmarq represented the seller, a regional multifamily developer. The buyer was a private investor. “The Bend generated significant investor demand, further proving...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout