Land acquisition financing for NIR Center has closed
McBride Capital is thrilled to announce the acquisition financing for Summit Development's NIR Center has closed! The property is located in the Central Eastside of Portland, OR and will be developed into a 300,000+ square foot office/lab space. The Summit team was very professional and we thoroughly enjoyed working with them during this process
The process to acquire the land for this project started and stopped, and then ultimately had to close in two weeks with no extension option available. Sabrina Snow, of McBride Capital, originated the loan with a national bridge lender and closed within the two-week timeline. The loan provided financing for the acquisition of the land as well as predevelopment costs. Overall, we could not be more pleased with the outcome, which was a true team effort.
