McBride Capital secures financing for The Bakery Blocks in Portland, OR
McBride Capital worked on behalf of the borrower to place a 10-year mortgage for the refinance of The Bakery Blocks. The Bakery Blocks is an iconic office building located on the inner east side of Portland, OR. The property encompasses two full city blocks and consists of 100,000 leasable sq. ft. The property underwent a major rehab five years ago and was converted to high quality creative office.
The debt originated by McBride Capital was placed with a Life Company Lender and featured a non-recourse 10-year term with an initial interest only period of 5-years, then amortizing on a 30-year schedule. This is the second transaction McBride Capital has closed with this sponsorship group in 2019.
The deal team was led by Danny Natsch with support from Ian Schneidmiller.