Portland Commercial Refinance
29735 Town Center Loop West, Wilsonville, OR, USA
Property Type
Retail
Length
12 months > Term
Appraised Value
$15,000,000 Appraised Value /
LTV
41
About this Property
The two properties are currently occupied by NNN leases which have been in place for 10+ years. The Hayden Island property has a net income of $30,000/mo, and the Wilsonville property has a net income of $35,000/mo. The buildings are owner user, and these are two out of their 5 locations between Portland and Los Angeles. The company sells online and in-store. They have been in business for over 25 years in both markets. The owner purchased both sites as land and developed them himself in the early 2000s
The Stores.
- Hayden Island:
- Address: 2100 N Hayden Island Dr, Portland, OR 97217
- Size: 36,000 sqft.
- Land: 80,000sqft
- Wilsonville
- Address: 29735 SW Town Center Loop W, Portland, OR 97070
- Size: 31,000 sqft
- Land: 90,000sqft
Listing Details
- Term: 12 months
- Appraised Value: $15,000,000
- LTV: 41.6%
- Status: NNN Leased
- Property Type: Retail
- Listing Type: Commercial
- ARV: n/a
- Current NOI: $780,000
- Building Size: 67,000sqft
- Land Area: ~4 acres
- Occupancy: 100%
- Experience: 10+ Deals
- Date Purchased: early 2000s
Financials
- Loan Amount: $6,248,000.00
- Estimated Net Worth: $40mm+
- Estimated Income: n/a
Client Information
- Has the client used private money in the past?: No
- Has the client had any banckruptcy in the last 5 years?: No
- Client Background
- The client is a long time businessman. He has been in the Rug and Furniture business for over 30 years. He has a broad real estate background owning NNN Commerical properties in both Portland and Los Angeles. In Los Angeles, his portfolio spans mostly multifamily, with residential, and storage as well. He's an investor in a few Israeli tech companies, one of which is going public by the end of the month. His VC investments are mostly in bio-tech. His current loan on the property has matured, and he would not like to seek traditional financing at this time, because they are in the planning stages of developing a 205 mixed-use building (by right) on the Wilsonville location, slated to break ground in a years time. The business in the Wilsonville location is ready to sign a lease at another location of a similar size a few miles away in Lake Oswego. Sponsor's Credit Score is 700+
Details
Loan Purpose
- Refinance / Cash-out
Role
- Investor
- Other
Listed by shahene
- Profile Status
- Not Verified
