NW 23rd Creative Office: Financing for acquisition and build-out has funded.
This light industrial building on NW 23rd in Portland, OR will become the perfect owner-occupied space in the near future. McBride Capital has secured a loan for the acquisition and build out to transform the building into creative office space. The loan was structured as a 10-year permanent loan with a 24-month interest only period and a hold back to fund TI work. During a rising interest rate environment, this structure shields the borrower from interest rate risk during the build-out.
The loan was originated by Ken McBride and placed with a regional bank.
