Friday, October 25, 2013

HFF arranges financing for mixed-use development in downtown Portland, OR


Park Avenue West rendering, Portland, OR

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.

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


No comments:

Post a Comment