Gantry, a commercial real estate firm, has successfully obtained a $9.5 million loan for the purchase of an office campus in Hillsboro, Oregon. The property is located at 2025 & 2035 NE Cornelius Pass Rd and is situated in the Portland metropolitan area.
This acquisition includes two modern five-story office buildings on a spacious 17.7-acre lot with a total of 226,000 square feet of space. The entire campus was purchased for $17 million and currently houses reputable tenants with strong credit ratings. The borrower plans to implement strategic leasing strategies to further enhance the property’s value.
Mark Ritchie and Keegan Bridges from Gantry’s Los Angeles branch represented the borrower – a private investor based in Los Angeles – during this transaction process. They were able to secure fixed-rate financing from one of Gantry’s correspondent insurance company lenders.
According to Ritchie, there is growing interest among insurance companies to finance office acquisitions in certain markets like Portland MSA suburb Hillsboro; therefore more assets are expected to be traded as current owners and lenders seek opportunities for their portfolios.
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