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| Park Avenue West rendering, Portland, OR |
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| Vanessa Sturgeon |
PORTLAND, OR – HFF announced today that it has arranged
financing for the development of Park Avenue West, a 30-story, mixed-use
high-rise in downtown Portland.
Working exclusively on behalf of TMT Development, HFF placed the
construction loan with PCCP, LLC.
Park
Avenue West will consist of six levels of subgrade parking, two levels of
ground-floor retail, 211 luxury residential units on the next 15 floors, as
well as Class A office space on the upper 13 floors, which is partially leased
to Stoel Rives, LLP.
The residential units will include a mixture of studio, one-
and two-bedroom options. Due for
completion in summer 2016, the tower is pre-certified LEED Platinum and will be
located at 750 SW 9th Avenue one block west of Pioneer Square and adjacent to
Nordstrom in downtown Portland.
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| Lloyd Minten |
The
HFF team representing TMT Development was led by managing director Casey
Davidson and senior real estate analyst Erica Christensen along with
senior managing director Lloyd Minten.
This was the latest in HFF's long history of arranging financing for
TMT Development.
"Throughout our 20 year business relationship with HFF,
we have been continuously impressed with their commitment to providing us with
strategic counsel and advocacy; they are a true partner,” commented Vanessa
Sturgeon, President of TMT Development.
Davidson added, “Park Avenue West is easily the most
exciting assignment of my career. Never
have I been involved with such an iconic development that will provide so much
economic stimulus to Portland’s skyline.
“TMT, HFF and PCCP put forth a true team effort working
together resulting in the successful closing of the financing. Our HFF team is extremely pleased to have
played a role.”
“Having been involved in the financing of numerous
properties for TMT throughout the years of my career with HFF, including the
1000 Broadway building and the Fox Tower, being part of the successful
financing team for Park Avenue West is truly a remarkable accomplishment,”
Minten continued.
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 | www.hfflp.com
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