CBRE HMF Finances Portland Apartments to $35.68 M

SAN FRANCISCO—CBRE through its direct FHA lender, CBRE HMF, Inc. (CBRE HMF), has completed construction financing for The Parker Apartments, a market rate multi-housing development located in Portland, OR. The loan was funded through CBRE’s FHA-insured loan program providing interest only construction financing together with a 40-year, low interest rate, non-recourse, fully-amortizing permanent loan.

The Parker will provide 177 Class A apartment homes with a mix of junior one bedroom, one bedroom and two bedroom layouts. The project will be situated in Portland’s vibrant Pearl District at 1447 NW 12^th Avenue. The 0.92 acre site will be improved with a “LEED for Homes” Gold certified six story (5 stories of wood frame construction over a one story concrete podium) residential building. Project amenities will include a community room with a kitchen and coffee bar, a fitness center, and an outdoor courtyard with seating areas, fireplaces and four barbeques.