PORTLAND, OR—NBS Financial Services president Ken Griggs and finance officer Paddy Ryan have secured $66 million in refinancing for Montgomery Park, Portland's second largest office building at nine stories high and 687,556 square feet.
NBS Financial represented the lender, Voya Financial, a premier retirement, investment and insurance company. Montgomery Park, LLC, a subsidiary of the Bill Naito Company, was the borrower.
The successful transaction was not without its challenges. Tenant turnover at the time of funding is a typical deterrent for many lenders, especially with large spaces to backfill. However, the lender remained confident in Montgomery Park's outstanding track record and prime location just northwest of the city core.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
