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| 4949 SW Landing Drive, John's Landing Neighborhood, Portland, OR |
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| Erica Christensen |
PORTLAND, OR – HFF
announced today that it has arranged a combined $36.85 million in financing for
the development of 4949 SW Landing
Drive, a 166-unit, Class A residential building located in John’s Landing,
a neighborhood just south of the Portland Central Business District and South
Waterfront area.
HFF worked on behalf of the borrower, Guardian Real Estate Services, to secure the financing through a senior construction loan coupled with an additional investment from a national life insurance company.
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| Casey Davidson |
4949
SW Landing Drive is located on the former Willamette Athletic Club site and
consists of a seven-story building that will house the residential apartment
homes and an expansive community amenity package.
Building amenities
will include a large outdoor courtyard with barbeques, eco-roof and fire pits,
Sky Lounge, garage parking, water sports equipment storage and a fitness
center.
Unit interiors will
feature a modern design, and floor plans are just below 800 square feet,
slightly larger than many new buildings being delivered to the market.
The HFF team representing the borrower was led by managing
director Casey Davidson, associate
directors Kerry Hughes and senior
real estate analyst Erica Christensen.
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| Kerry Hughes |
“The John’s Landing neighborhood has long been a staple of
Portland, with its charming character and extremely convenient location just
south of downtown; however, home prices are lofty in this primarily for-sale
housing market,” Hughes said.
“Upon
completion, 4949 SW Landing Drive will be one of the first to offer Portland
residents an opportunity to live in the desirable neighborhood via a modern,
institutional-quality apartment building.”
For more information,
visit www.gres.com
For a complete copy
of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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