NorthMarq’s Seattle office finalizes $5.6 million refinance of Willamette Wharf in Portland, Oregon
Bob Spiro, managing director and Scott Moline, vice president of NorthMarq’s Seattle office arranged the $5.6 million refinance of Willamette Wharf. The 51,716 sq. ft. office property is located at 4640 SW Macadam Avenue in Portland, Oregon. The property is located south of downtown Portland and is a short distance from Interstate 5. The property improvements consist of a two-story low-rise multi-tenant office building.
The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
“We were able to secure a refinance of an office property with competitive terms, which has been a challenge with all the scrutiny towards office properties during the pandemic,” said Spiro.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
