BWE Secures $20M Loan to Finance Multifamily Development in OR
BWE has secured a $20.57 million participation loan to finance the construction of a 105-unit multifamily community in Medford, Oregon.
Chris Dyson, senior vice president, and Libby Davis, senior production analyst, both of BWE’s Birmingham office, originated the financing with a life insurance company on behalf of a developer and operator of multifamily housing across the Pacific Northwest.
“When our longtime BWE client decided to pursue a new development strategy, rather than their traditional build-and-hold, we knew that a participation loan program with a life insurance company would provide the strongest possible financing for the project,” said Dyson.
The property will comprise 42 one-bedroom units and 63 two-bedroom units. All apartments will feature luxury amenities, including hardwood-style flooring, quartz countertops, walk-in closets, electric fireplaces, and private patios and balconies. The property will be developed on Medford’s northeast side and has already broken ground, with completion expected in 2026.
Other News
Queens’ Tallest Tower Reaches 90% Leased, Adds First Retail Tenants
BLDG Management Co., Inc announced that The Orchard, Queens’ tallest tower, has surpassed 90% leased across its 824 residences nine months after launching residential leasing. The milestone occurs as the 70-story Long Island City development recently signed its first three retail tenants: K-beauty brand Tokimo, Japanese tea and beverage brand Mollytea and financial technology platform...
Learn more
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...
Learn more
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...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout