Monday, January 18, 2016

HFF arranges $41.6 million construction loan for Class A multi-housing development in Portland’s Pearl District

Rendering of planned Couch 9 apartment project,
Corner NW9th Avenue and Couch, Pearl District, Portland, OR

Erica Christensen
PORTLAND, OR –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $41.6 million construction loan for the development of Couch 9, a 136-unit, Class A multi-housing project with 5,258 square feet of ground floor retail in Portland, Oregon’s Pearl District.

HFF worked on behalf of the borrower, Urban Asset Advisors, to secure the construction loan through a non-local debt fund.
Due for completion in 2017, Couch 9 will feature studio through three-bedroom units averaging 737 square feet each. 

Units will offer stainless steel appliances, quartz countertops, in-unit washer and dryers, fireplaces, 10’ ceilings and balconies in select units.

 Residents will enjoy access to an exercise room, club room, rooftop deck, bike storage and wine storage room.  The property will also feature a two-level subterranean parking garage with 69 stalls. 

Casey Davidson
Couch 9’s location at the corner of NW 9th Avenue and Couch, places the asset within walking distance of the historic Alphabet Block District and the West End neighborhoods as well as proximity to two Portland streetcar lines. 

The HFF debt placement team representing the borrower was led by managing director Casey Davidson and associate director Erica Christensen.

“Couch 9 has a desirable in-fill location in one of Portland’s most acclaimed neighborhoods, ‘The Pearl’, an amenity rich area known for its high-rise condominiums, upscale boutiques, and beautiful modern parks,” said Davidson.

 . For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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