Construction financing for The Dean River Apartments
A new 72-unit multifamily property will break ground shortly in southeast Portland near SE 17th and Powell Blvd. Financing for the project was arranged by McBride Capital and placed with an institutional non-bank lender. The Dean River is a transit oriented development situated one block from the SE 17th Street Max Station and offers an easy commute to downtown employers as well as Portland State University.
Amenities to be enjoyed by tenants include a 3rd floor community deck, ample bike storage and a shared lounge. There is also a mission driven aspect to The Dean River, which will donate to the Fresh Water Trust to keep our rivers healthy.
It was an honor and pleasure to work with this client for the first time. They have an amazing track record in the design-build space and focus on sustainable, eco-friendly developments. They are delivering vibrant communities throughout the City of Portland that blend affordability, thoughtful design, and creative ways to give back to the community through donations to foundations such as the Fresh Water Trust.
The three year, non-recourse construction loan was originated by Danny Natsch.