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Pacific Realty Refinances Durham Office Center

PORTLAND-The owner and developer of office and flex-industrial space closes on $4.375 million in refinancing for its 33,847-sf Durham Office Center, which is 100% occupied. The 10-year loan was done at a 75% loan-to-value ratio.

By Brian K. Miller | Updated on November 18, 2002

PORTLAND-Pacific Realty Ventures has closed on $4.375 million in refinancing for its 33,847-sf Durham Office Center.

The 10-year loan was done at a 75% loan-to-value ratio and a 30-year amortization schedule. Pricing was based on the 10-year treasury. The lender was a conduit, sourced by Cohen Financial.

Located 10 miles south of Downtown Portland at 16520 SW Upper Boones Ferry Rd., Durham Office Center is 100% occupied, according to Grub & Ellis. One of the anchor tenants is Centex Homes, which in March inked a seven-year deal for 10,571 sf in the two-story building.

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