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| Rendering of planned Couch 9 apartment project, Corner NW9th Avenue and Couch, Pearl District, Portland, OR |
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| 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.
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| 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 | www.hfflp.com
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