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Northmarq Facilitates $32M Sale and $27M Financing of Gresham Town Fair in Oregon
Northmarq’s Pacific Northwest Commercial Investment Sales team—led by Kevin Adatto, Sean Tufts, and Joe Dugoni—alongside the firm’s Denver Debt & Equity team, headed by Michael Salzman, successfully arranged the sale and acquisition financing for Gresham Town Fair, a 264,634-square-foot retail community center located at 300-600 NW Eastman Parkway in Gresham, Oregon.
The transaction involved a $31.76 million sale of the property, completed on behalf of the seller, PK I Gresham Town Fair, LLC. The buyer in the transaction was Gresham Town Fair Venture, LLC. Northmarq also secured $26.8 million in bridge loan financing for the borrower, Rhino Investment Group, through a correspondent relationship with RAA Capital.
Originally built in 1987, Gresham Town Fair is positioned on 26 acres adjacent to NW Division Street and NW Eastman Parkway. The multi-tenant center is currently 74% leased and features a mix of national and regional retail tenants.
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