Portfolio

Portland, OR

• Type: Multifamily
• LTV: 53%
• Loan Amount: $2,128,000
• Loan Type: Purchase
• Notes: This request was for the purchase of a 32-unit apartment property on the east side of Portland. There were several major challenges we and the lender needed to resolve with Freddie Mac relating to vacancy rates at the property. Seeing the purchase as a significant opportunity, the buyer hung in there with us as we dealt with each of the challenges. Ultimately with the buyer and listing agent’s help, we were able to successfully close the loan – one which normally would have been turned down by Freddie Mac and elected to approve the request based in large part on the strength of the buyer with whom they already had a long-standing relationship.
  

Monmouth, OR

• Type: Multifamily
• LTV: 56%
• Loan Amount: $1,346,000
• Loan Type: Purchase
• Notes: This purchase will go down as the longest escrow in CLG’s history!  The property has a formal HUD contract which needed transferring to the buyer.  That process alone took 7-8 months during which multiple document requests kept coming from HUD.  Once the assumption was finally approved, the loan request then needed Fannie Mae approval – a process which normally takes 1-2 weeks, but in this case took nearly 3 months.  With all approvals completed, the property had been under sale contract for 1 calendar year.  Despite all of those delays and frustrations, the buyer remained calm and resolute on getting to the finish line knowing this property will be a long-term hold.  A special thank you to the seller and listing agent for their patience as well!

Tigard, OR

• Type: Multifamily
• LTV: 66%
• Loan Amount: $925,000
• Loan Type: Purchase
• Notes: We were excited to help with the financing of this smaller 8-plex in Tigard. Loans under $1m are typically pretty challenging, but were able to secure a good interest rate with a great lender who actually had our final commitment two weeks before closing. The hiccup was with the property insurance – as is the case with a lot of multifamily properties right now. However, with all hands on deck, between the borrower, CLG, the selling agent, and listing agent, the insurance was sourced and we still closed before the timeline of the PSA.

Portland, OR

• Type: Multifamily
• LTV: 78%
• Loan Amount: $2,325,000
• Loan Type: Purchase
• Notes: This loan secured the purchase of the Glenfair Townhomes in Portland, Oregon.  The property is made up of 4 6-unit townhome buildings with an older 1950’s home at the front of the property.  Each of the buildings had tuck under parking which was successfully addressed as that poses an earthquake risk to the structures.  The historical NOI posed a challenge as the property sufferred from poor collections despite high occupancy coupled with very high expenses.  We were able to mitigate that with the agency lender by the strength of the sponsor and his familiarity not only with Freddie Mac, but also owning another building 2 blocks away.  The biggest challenge had to do with a zoning issue we had never seen which necessitated over $750,000 in additional legal non-confirming insurance coverage.  That was at first rejected by Freddie Mac.  But with the efforts of Thomas Marcus of Regions Bank and the underwriting manager at Regions, Freddie agreed the coverage was enough and the sale concluded.  We want to thank the sellers, agents and most of all our client as we successfully navigated the myriad of issues – much appreciated!

Dundee, OR

• Type: RV Park
• LTV: 54%
• Loan Amount: $5,800,000
• Loan Type: Refinance
• Notes: CLG working with another broker assisted the client in refinancing his recently completed RV Park in Dundee, OR. The bridge loan provided the borrower with time to secure a permanent loan as operations stabilize. In addition, the lender established an 8 month interest reserve to relieve cash flow pressure on the park.

Gresham, OR

• Type: Multifamily
• LTV: 55%
• Loan Amount: $3,954,000
• Loan Type: Refinance
• Notes: CLG was able to secure a 10-year fixed rate Freddie Mac loan for the owners of Rosewood Commons in Gresham. The owners purchased the property in 2006 and still retained the original Key Bank loan from the purchase which was paid off. Rosewood shows definite pride of ownership with the borrowers having upgraded all the electrical, replaced the siding and roofs in 2022, upgraded all of the units along with new balconies for the upstairs units including installation of high-end metal railings. The borrowers style of ownership is reflected in the number of long-term tenants. We were pleased given current market conditions to secure a rate well under 6% and still obtain 3 years of interest only payments. While there were some challenges along the way, the borrowers, lender and CLG were able to work as a team to close the loan.
  

Portland, OR

• Type: Multifamily
• LTV: 69%
• Loan Amount: $5,649,000
• Loan Type: Purchase
• Notes: CLG assisted in the difficult financing of the Springwater Apartments east of I-205 in Portland. This purchase was challenged by very high operating expenses. When reviewing those with the buyer, it became apparent that the property suffered from poor management which would need to be overcome in underwriting. CLG presented a strong case based on the strength of the sponsor, new management, and normal market expenses to get the lender comfortable with pushing loan proceeds for the Freddie Mac loan. Integral to all of that were the listing and selling brokers at HFO who assisted in pushing management on collections and providing data needed for the file. This was literally a team effort. Epilogue: in speaking with the buyer 45 days after closing, the property is now stable with expected lower expense/management costs and solid collections. This property was a diamond in the rough!
  

Milwaukie, OR

• Type: Multifamily
• LTV: 50%
• Loan Amount: $4,177,261
• Loan Type: Assumption
• Notes: CLG worked with the buyer and current lender to arrange for the assumption of the current Freddie Mac loan. While the down payment was steep at 40%, the benefits of the existing financing made simple the decision to more on the acquisition. What was unknown to all – CLG, buyer, and brokers – was the difficulty in assuming Freddie Mac loans. In the end, more time was spent on the file than any other in recent memory despite the high net worth and liquidity of the buyer. The process internally with the lender and Freddie Mac was much more extensive and time consuming than originally estimated as we were essentially working with the servicing arms of both the lender and Freddie for whom production was not their normal business. The broker graciously acknowledged that the sale would not likely have closed without our assistance and persistence. However, it wouldn’t have happened without everyone’s cooperation!
  

Dallas, TX

• Type: Commercial
• LTV: 50%
• Loan Amount: $3,000,000
• Loan Type: Refinance
• Notes: CLG was able to arrange a private money bridge loan for the borrower (a current NFL lineman) to finish property improvements for an entertainment/restaurant venue in Dallas, TX. Given the property type and financing need, a nationwide search was needed for the right lender. Rather than a standard 1-year bridge term, we negotiated a 2-year term to allow ample time for completion and stabilization before proceeding onto the permanent either conventional or SBA loan.
  

Pendleton, OR

• Type: Retail
• LTV: 70%
• Loan Amount: $980,000
• Loan Type: Purchase
• Notes: This loan was for the purchase of a 50% occupied newer retail property in Pendleton, OR. The seller was in negotiation with an additional tenant which would bring the occupancy up to 75%. CLG was able to secure 70% financing with a regional credit union despite the lower occupancy based on the strength of the borrower. The potential upside on income made this acquisition easily a 15% cap within the next 2-3 years!
  

Beaverton, OR

• Type: Medical Office
• LTV: 74%
• Loan Amount: $2,584,000
• Loan Type: Purchase
• Notes: This loan was for the purchase of a new location for a local dentist which had the added benefit of another tenant in the building.  We were challenged by the fact the property appeared overpriced and did not appraise for the purchase.  However, we were able to work with the lender who helped our client obtain a line of credit to bridge the funding gap allowing the transaction to close.  The buyer appreciated our creativity to figuring out a solution as the purchase was critical to his business planning.
  

Portland, OR

• Type: Multifamily
• LTV: 49%
• Loan Amount: $450,000
• Loan Type: Purchase
• Notes: This loan began as a standard small apartment purchase with an overly qualified buyer in a 1031 exchange.  However, during the process, the buyers’ son – also in an exchange – had been unable to source a replacement property and was staring down a large tax liability.  We were asked to midstream change out the borrowers to a much less qualified with much tighter global cash flow ratios.  That said, CLG was able to work with the lender to overcome those issues and facilitate a timely close.  While not the best situation, CLG was uniquely positioned to pivot between borrowers and assist in getting the transaction closed.

North Plains, OR

• Type: Commercial
• LTV: 86%
• Loan Amount: $2,360,000
• Loan Type: Refinance
• Notes: This loan request was a cash-out refinance of an owner occupied manufacturing facility located just west of Portland.  The borrower owned the property for over 10 years with successful expansion over that time.  With substantial equity in the property, the owner wanted to take advantage of that equity before any moves in interest rates.  The new loan – despite the cash proceeds – actually reduced payments.  Commercial Lending Group was able to secure both an 80% first trust deed along with a business line of credit with a local credit union with a 30-year amortization.

Portland, OR

• Type: Multifamily
• LTV: 60%
• Loan Amount: $2,910,000
• Loan Type: Purchase
• Notes: This loan secured the purchase of a newer apartment project located in the close-in southeast area of Portland – a highly sought after area.  The buyers needed an extended rate lock which we were able to arrange with the lender despite volatility in the interest rate markets.  The lender was able to work past limited historical data to underwrite based on current rents and market expenses.  This allowed the buyer to obtain the 60% loan despite the very low cap rate on the property.  CLG also obtained 3 years of Interest Only payments to help with initial cash flows for the buyers.
  

Hillsboro, OR

• Type: Multifamily
• LTV: 65%
• Loan Amount: $2,134,600
• Loan Type: Purchase
• Notes: CLG was able to arrange the financing for the purchase of the Omega Townhomes with a west coast based lender.  This proved challenging as the property consisted of 3 non-contiguous parcels which historically very few lenders will fund.  Our source was able to complete the financing on the basis of the proximity of the parcels to each other (within 3 blocks of each other) coupled with the fact the units had always been operated as essentially one property.  In addition, we had previously secured financing for the same borrower with the lender which afforded a higher comfort level for the bank.

Lockport, IL

• Type: Commercial/Retail
• LTV: 52%
• Loan Amount: $5,150,000
• Loan Type: Purchase
• Notes: This purchase loan was arranged through a Northwest based Credit Union for a retail property located south of the Chicago MSA.  The property benefited from a wide array of tenants from traditional retail (Dollar General and Sherwin Williams) to a large Daycare facility.  35% of the space was occupied by tenants with 15 or more years in the property demonstrating stability.  In this case, CLG was able to arrange a 30-year amortization for the loan – nearly unheard of for retail properties..

Fort Walton Beach, FL

• Type: Commercial/Retail
• LTV: 49%
• Loan Amount: $4,125,000
• Loan Type: Refinance
• Notes: CLG arranged for the cash-out refinance of a recently acquired retail property in Ft. Walton Beach Florida.  Despite the remote location of the property, CLG was able to secure the financing with a Credit Union who lends nationwide regardless of population size around the subject.  The lender was attracted by the variety of credit tenants including Verizon, FedEx, Starbucks and a Ruby Tuesday restaurant.  We previously arranged financing for the same client with this lender and that familiarity helped significantly in making this transaction close very smoothly.
  

Riverdale, GA

• Type: Commercial
• LTV: 57%
• Loan Amount: $5,500,000
• Loan Type: Purchase
• Notes: This loan request was for the acquisition of a multi-tenant Class B retail property in a suburb of Atlanta.  The property contains a varied mix of internet resistant tenants who required only minimal Landlord assistance during the early stages of the pandemic.  All returned to normal operations within 6-12 months with most of the lease income returning to the landlord over the proceeding 12 months.  The loan was helped by a two of the tenants having over 15 year histories in the property.

Menlo Parc Apartments
Beaverton, OR

• Type: Multifamily
• LTV: 73%
• Loan Amount: $5,935,000
• Loan Type: Purchase
• Notes: The buyer of Menlo Parc was out of state, but very familiar with the Portland market. Unlike many properties in the market, Menlo operated with great stability despite the current Covid situation. In addition, the seller’s put funds out for extensive capital improvements over the past 2 years making this a turn-key purchase in the eyes of the lender. With that, CLG was able to secure a long-term fixed rate non-recourse agency loan.

Bollinger
Jefferson, OR

• Type: Multifamily
• LTV: 75%
• Loan Amount: $1,845,000
• Loan Type: Refinance
• Notes: This full proceeds cash out request in a tertiary market is allowing the investor to leverage into a bigger property. Several challenges presented itself along the way and we were able to navigate around them to avoid impacting the loan amount or terms.

Apartments
Portland, OR

• Type: Multifamily
• LTV: 71%
• Loan Amount: $1,850,000
• Loan Type: Refinance
• Notes: This was a newly constructed 7-unit apartment with private construction financing and was in need of permanent conventional money. Even though the building was empty at the start of the transaction, the lender was able to underwrite to the appraisal NOI to make the loan work for the investor. Nice to see more units added to the Portland inventory!

Cypress Gardens
Salem, OR

• Type: Multifamily
• LTV: 63%
• Loan Amount: $1,250,000
• Loan Type: Purchase
• Notes: Borrower came to us with a deal under a 60-day contract and a very significant amount of non-refundable earnest money on the line. They were willing to trust us to get the deal closed. Our accountability with both the lender and client ensured that we were able close on time.

Eve Green
Portland, OR

• Type: Retail
• LTV: 63%
• Loan Amount: $425,000
• Loan Type: Purchase
• Notes: This was a small Industrial building that was converted to a Retail Use. New investor to the commercial world, but had a solid plan for any vacancy or COVID related rent forbearance. They were also utilizing local 3rd party management, which helped the lender feel comfortable.

Regal Manor
Portland, OR

• Type: Multifamily
• LTV: 65%
• Loan Amount: $3,120,000
• Loan Type: Purchase
• Notes: Navigating a multi-part exchange for a return client. We were able to secure a very good rate on 10 year fixed money. Shifting occupancy made this one a bit stressful, but in the end the property management and brokers were able to ensure that we had acceptable rental income at closing.

Johnson Creek Village
Portland, OR

• Type: Multifamily
• LTV: 75%
• Loan Amount: $3,000,000
• Loan Type: Purchase
• Notes: Started this project as an agency loan, but because of a combination of physical and economic vacancy due to COVID, we switched to a private bridge option. The terms were aggressive with a rate of 6.99 IO, no prepay and non-recourse at 75% LTV! Once the property is stabilized, we will refinance with the agency lender. Flexibility during COVID is a must!!

Fessenden Apartments
Portland, OR

• Type: Multifamily
• LTV: 70%
• Loan Amount: $805,000
• Loan Type: Refinance
• Notes: Part of a 2-property refinance to pull equity and purchase multifamily investments. In
  general this was a smooth transaction, however we did still have to navigate through new lender guidelines as a result of pandemic restrictions.

Ivon Apartments
Portland, OR

• Type: Multifamily
• LTV: 70%
• Loan Amount: $455,000
• Loan Type: Refinance
• Notes: Second part of a 2-property refinance to pull equity and purchase multifamily investments. In general this was a smooth transaction, however we did still have to navigate through new lender guidelines as a result of pandemic restrictions.

Ridgecreek Manor
Salem, OR

• Type: Multifamily
• LTV: 80%
• Loan Amount: $3,680,000
• Loan Type: Purchase
• Notes: This purchase had several challenges including potential environmental concerns from an adjoining property and Covid lending guideline changes. However, given great cooperation and communication with both the buyer and seller, we were able to overcome those issues and secure a full leverage Fannie Mae loan on behalf of the buyers. Fortunately the property presented very well and maintained stable income during the Covid crisis. That said, it became one of the most challenging closings this year.

Loreto Apartments
Portland, OR

• Type: Multifamily
• LTV: 43%
• Loan Amount: $1,700,000
• Loan Type: Refinance
• Notes: Was previously turned down because of tightening credit requirements in the COVID era, we located a lender that was able to see past the challenges and loan the full request and at better terms than originally found. Good long-term loan for the investor!

Baseline 8
Cornelius, OR

• Type: Multifamily
• LTV: 75%
• Loan Amount: $705,000
• Loan Type: Purchase
• Notes: This transaction was started and completed during the COVID lockdown. Special care was taken to document the property income and assure the lender that it would be ongoing even with an extended lockdown. Special consideration was also made since we could not enter the units during the appraisal inspection, so all parties worked together to provide as detailed information as we could. This is a great pick-up for the investor.

5-Plex
Portland, OR

• Type: Multifamily
• LTV: 44%
• Loan Amount: $391,000
• Loan Type: Purchase
• Notes: The only real difficulty in this deal was finding a lender to place such a small commercial loan. We were able to cooperate with a local credit union who was very helpful in getting this transaction completed.

Holman Apartments
Dallas, OR

• Type: Multifamily
• LTV: 75%
• Loan Amount: $618,750
• Loan Type: Purchase
• Notes: First time apartment owners were able to secure a solid investment with a high loan to value and a great rate on 10 year fixed terms. This was an excellent upgrade for the buyers and we were able to close in a very reasonable timeline thanks to the good work of our lender.

Echo Park
Los Angeles, CA

• Type: Multifamily
• LTV: 67%
• Loan Amount: $1,000,000
• Loan Type: Refinance
• Notes: Very unique property located in Los Angeles.  Some of the challenges we encountered were 2 of the 5 units had been vacant for years.  City was slow to sign off on final permits once the rehab of those units was finished.  More stringent Rent Control passed during the process.  Out of state borrowers who inherited the property through a trust, so very limited direct ownership.  We were able to overcome all of these challenges to get them an extremely competitive rate.

Maddy’s Depot
Portland, OR

• Type: 5-Unit Multifamily
• LTV: 73%
• Loan Amount: $562,500
• Loan Type: Purchase
• Notes: This purchase transaction was started and completed during the COVID lockdown. Even with the pandemic, we were able to secure a high leverage loan for this seasoned investor.
  

Williams / 33rd
Portland, OR

• Type: Multifamily
• LTV: 71%
• Loan Amount: $1,200,000
• Loan Type: Refinance
• Notes: This loan request was for a cash-out refinance of a small apartment complex. The cash is going to fund a business venture idea of the owner. The challenge with this transaction was the fact that the borrower’s CPA was very good at his job so made underwriting global cash flow difficult. Instead of arguing with an underwriter, we were able to find a lender that didn’t require tax returns. We ended up delivering higher proceeds than expected and were able to build some Interest-only payments in as well!

Apartments
Portland, OR

• Type: Mixed – Multifamily
• LTV: 80%
• Loan Amount: $940,000
• Loan Type: Purchase
• Notes: Even in the face of COVID, we were able to deliver high leverage on this smaller apartment complex. A strong borrower and strong property cash flow helped push this along as we took the extra steps to document each tenant’s source of income, both for the lender’s and the borrower’s peace of mind.
  

8th Ave Lofts
Tucson, AZ

• Type: Multifamily
• LTV: 70%
• Loan Amount: $1,540,000
• Loan Type: Purchase
• Notes: We had approval on this loan with a lender, but because of the shutdowns, we couldn’t complete a key piece of due diligence. We were able to quickly shift to a different lender, utilize the same third party reports and close the transaction on time to protect the buyer’s 1031 exchange. Very unique property and we were happy to be able to secure the higher leverage for this investor.

Light Industrial property
Portland, OR

• Type: Light Industrial
• LTV: 72%
• Loan Amount: $465,000
• Loan Type: Purchase
• Notes: This is an Owner User purchase of a small industrial building to be used by a landscape company for equipment storage. While the fundamentals of this one were solid, there was a bit more scrutiny on the underwriting side given the impacts of COVID on small businesses. We were able to work through it all with underwriting and actually press it above the originally approved 70% LTV.

Multnomah Gardens
Portland, OR

• Type: Multifamily
• LTV: 60%
• Loan Amount: $1,800,000
• Loan Type: Refinance
• Notes: This was a very tricky transaction to put together from an entity structure perspective, but we were very careful to work all of that out at the beginning of the transaction so there were no surprises. It got further complicated with the onset of COVID in our area which brought about new underwriting requirements and fear of the unknown. Borrower ended up with a great rate and some Interest Only payments to help cover any rent collection issues during the first year.

B Street & Catterlin
Portland, OR

• Type: Mixed – Multifamily
• LTV: 73%
• Loan Amount: $1,337,500
• Loan Type: Refinance
• Notes: These were two refinance loans used to pay off one underlying note tying up both properties. The original loan was used as a bridge and was at a substantially higher interest rate. CLG successfully made the case with the lender to use a higher than guideline loan to cost as the properties had no long-term ownership. We did this by pushing on the experience and financial strength of the client.

Ghim / Dorchester House
Portland, OR

• Type: Multifamily
• LTV: 59%
• Loan Amount: $2,600,000
• Loan Type: Purchase
• Notes: “CLG arranged the financing for this challenging property located on the Oregon coast.  The property was purchased by a strong operator located in Portland.  However, the property itself was located in a remote area and had an existing regulatory agreement with the State regarding tenancy requirements that needed to subordinate to the purchase loan.  CLG used a long-standing relationship with a New York-based lender to secure a Fannie Mae loan with a fixed rate in the mid-3’s.  The client was ecstatic about the terms and very appreciative we could even locate a lender for the property.”

Khouri / Belmont
Portland, OR

• Property Type: Mixed Use
• LTV: 58%
• Loan Amount: $1,312,800
• Loan Type: Refinance
• Notes:”This loan was a refinance for an existing client paying off the original purchase loan CLG arranged several years ago coupled with a seller carried note. The property was unique in that it had multiple revenue sources from apartment, restaurant, and rooftop cell towers. CLG was again able to overcome seismic issues as the building is un-reinforced masonry with a good long-term fixed rate low interest loan at just over 4%.”
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Fairway Apartments
Portland, OR

• Type: Multifamily
• LTV: 59%
• Loan Amount: $2,520,000
• Loan Type: Refinance
• Notes: Long term ownership wanted to pull some of their equity for exterior upgrades and to have cash available for new acquisitions. CLG arranged a 10 year fixed loan with Interest Only payments during the entire term. Despite all of the equity extraction, the mortgage payment changed by less than $200/month.

Candlewood, Executive East
and Lincoln Court Apartments

• Type: Mixed – Multifamily
• LTV: 67%
• Loan Amount: $6,080,000
• Loan Type: Refinance
• Notes: These loans refinanced existing bridge loans use to purchase the properties 4 months ago. All three were secured with new long term Fannie Mae financing with no recourse required and interest rates below 4%.

Fessenden Apartments
Portland, OR

• Type: Mixed – Residential/Commercial
• LTV: 58%
• Loan Amount: $638,300
• Loan Type: Purchase
• Notes: The client approached us to arrange the financing on this rather unique building with a grocery store on the first floor and multiple residential units and a food cart. Despite the lack of commercial experience, we were able to locate a local lender that could share in the buyer’s vision for the property.

Boston House
Portland, OR

• Property Type: Multifamily
• LTV: 80%
• Loan Amount: $2,640,000
• Loan Type: Purchase
• Notes:The client required an 80% loan. On first look, the property financials only warranted 65% LTV. We did some investigation into the numbers and found some additional NOI that allowed us to get the loan amount up to 80%. We were able to arrange a loan with some interest-only which has proven very useful right now.
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Atkinsonville Apartments
Portland, OR

• Type: Apartments / Mini Storage
• LTV: 75%
• Loan Amount: $2,276,250
• Loan Type: Purchase
• Notes: This was a 1031 transaction with many challenges that seemed to come up throughout the process. Including: Tax Lot challenges, deferred maintenance, health/safety repairs, cash flow challenges, property use discrepancies (related to the storage units) and borrowing entity issues. We were able to address all of these and still maintain a high leverage at a very attractive rate.

Forest Grove Apartments
Portland, OR

• Type: Multifamily
• LTV: 76%
• Loan Amount: $3,188,000
• Loan Type: Refinance
• Notes: This refinance was done to create cash for another purchase. Even with a prepayment penalty on the underlying lien, the borrower was able to pull the equity, get a lower rate and enjoy interest-only payments.

Retail Center
Portland, OR

• Type: Mixed – Commercial/Retail
• LTV: 67%
• Loan Amount: $1,550,000
• Loan Type: Refinance
• Notes: The client was seeking to pull some equity out of their multi-tenant retail building. CLG was able to arrange the cash-out request on a 10 year fixed (30-year amortization) in the low 4’s and include 2 years of interest only. Great win for the investor!

Seven Gables Apartments
Portland, OR

• Property Type: Multifamily
• LTV: 60%
• Loan Amount: $1,950,000
• Loan Type: Refinance
• Notes:The client sought to pull equity out of this long-term hold for acquisition of new assets. CLG arranged the 10-year fixed financing in the low 4% range with Interest Only payments for the term of the loan. This afforded the borrowers flexibility in the timing of the new acquisition as their payment did not change.
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Porras
Portland, OR

• Type: Mixed – Residential/Commercial
• LTV: 58%
• Loan Amount: $638,300
• Loan Type: Purchase
• Notes: The client approached us to arrange the financing on this rather unique building with a grocery store on the first floor and multiple residential units and a food cart. Despite the lack of commercial experience, we were able to locate a local lender that could share in the buyer’s vision for the property.

Multifamily Property
Portland, OR

• Type: Apartments
• LTV: 79%
• Loan Amount: $500,000
• Loan Type: Purchase
• Notes: High loan to value acquisition for a first-time multifamily investor utilizing 1031 exchange funds. The property presented with 2 of the 5 units vacant, but we were able to underwrite based on the potential income after the units were fully renovated. Great win for this investor!

Washington Way Apartments
Longview, WA

• Type: Apartments
• LTV: 75%
• Loan Amount: $577,500
• Loan Type: Refinance
• Notes: The owner contacted us after reaching out to several of his current relationships and was turned down. We were able to provide cash-out of his building located in Longview, WA at very favorable rates.

Cable Apartments
Portland, OR

• Type: Apartments
• LTV: 73%
• Loan Amount: $700,000
• Loan Type: Refinance
• Notes: Refinance to take out seller carry. The recent acquisition and lack of historical operating numbers along with the sponsors residing out of state made locating a lender difficult. We located the right lender and assisted in navigating several other challenges that arose during the process.

Fairview Rowhouse
Fairview, OR

• Type: Mixed Use – Retail & Multifamily
• LTV: 51%
• Loan Amount: $427,750
• Loan Type: Purchase
• Notes: Very low Cap Rate purchase utilizing 1031 exchange funds. We assisted this client in purchasing their first commercial property.

Office & Retail Space
Oregon City, OR

• Type: Office / Retail
• LTV: 70%
• Loan Amount: $2,688,000
• Loan Type: Refinance
• Notes: Cash-out proceeds being used to fund another acquisition. Different lease types made underwriting the income difficult, lender located was able to work through this challenge and deliver full proceeds.

Estacada Lakes
Estacada, OR

• Type: Apartments
• LTV: 72%
• Loan Amount: $1,260,000
• Loan Type: Purchase
• Notes: CLG arranged the financing for Estacada Lakes through a regional bank located on the West Coast. Estacada is a very small market 15-20 miles east of Portland making it challenging to source for financing. That said, we were able to obtain a 10-year fixed rate at below 4% with a lifetime ceiling of 8.75%.

Hood Street Apartments
Salem, OR

• Type: Apartments
• LTV: 72%
• Loan Amount: $450,000
• Loan Type: Purchase
• Notes: Owner wanted to take advantage of great rates and pull out some equity in the process. This was one of the first deals that we have seen values effected by slightly under-market rates due to the newly applied rent control regulations. Appraisers now have to make a calculation for a maximum possible increase and how that would effect cash flow over a 2 year period assuming no turnovers occur naturally. We were lucky in this case that the desired loan amount was still achieved.

Tioga-Koski
Coos Bay, OR

• Type: Mixed – Retail / Multifamily
• LTV: 73%
• Loan Amount: $2,200,000
• Loan Type: Purchase
• Notes: Very challenging historical property in a tertiary market. The property had been historically mismanaged while the new owner had a great vision for how the property could be run. We were able to locate and work with a lender that could also see that vision.

Clearview Apartments
Keizer, OR

• Type: Apartments
• LTV: 75%
• Loan Amount: $1,912,500
• Loan Type: Refinance
• Notes: The borrower needed to replace a higher interest rate, short-term loan bridging three properties. The lender was willing to release Clearview provided we obtained a full leverage 75% loan – which we did. CLG arranged new financing with a rate below 4% and a lifetime ceiling of only 7.5% with a very limited prepayment penalty. The request was complicated also by the short term ownership of less than two years, however, the property underwent significant renovations during that time.

Calhoun Court Apartments
Portland, OR

• Type: Apartments
• LTV: 69%
• Loan Amount: $658,950
• Loan Type: Purchase
• Notes: Smaller purchase of a North Portland apartment property. Historical utilities were high allowing for higher income potential with the installation of water saving fixtures and the implementation of utility bill backs. The buyer was out of state adding another challenge. However, CLG was able to secure the financing with a Salem based Credit Union.

Sunrise Apartments
Gresham, OR

• Type: Apartments
• LTV: 75%
• Loan Amount: $3,712,500
• Loan Type: Purchase
• Notes: Sunrise posed some interesting challenges in that the property was located outside the Portland MSA along the Columbia River and the buyer was out of state. However, CLG was able to work with t he lender based on the quality of both the property and the borrower (who had over 35 years experience in apartments and very high net worth). The purchase was an exchange and CLG was able to package and get the loan closed on time.

Office Building
Eugene, OR

• Type: Office
• LTV: 47%
• Loan Amount: $851,000
• Loan Type: Purchase
• Notes: CLG arranged financing for the purchase of a small office building located in Eugene, Oregon. Historical income and expenses were low compared to market. The buyers were in a 1031 exchange which  needed only a 50% loan, however, that put the request well under $1m (the typical minimum of office/retail properties). CLG arranged the financing with a regional credit union familiar with the buyers and the Eugene market on very favorable terms.

Borica Gardens
Portland, OR

• Type: Apartments
• LTV: 57%
• Loan Amount: $650,000
• Loan Type: Refinance
• Notes: Simple purchase of a small apartment property. The buyer was executing an exchange putting some time pressure into the equation. However, CLG was about to source a regional lender who performs well on loans under $1m with lower leverage requirements.

Peyton Plaza Apartments
Portland, OR

• Type: Apartments
• LTV: 76%
• Loan Amount: $2,066,000
• Loan Type: Purchase
• Notes: Purchase of a straightforward 2-story apartment project well located in Portland. The buyer was an experienced locally based owner who was looking for a turnkey property. Income and tenancy were both stable and fit the profile the buyer wanted.

Greenview Apartments
Portland, OR

• Type: Apartments
• LTV: 77%
• Loan Amount: $2,994,000
• Loan Type: Purchase
• Notes: Refinance for a newly renovated apartment property located on a major SE Portland arterial. After acquisition, the property underwent extensive upgrades with windows, full exterior paint, and full rehab of several units. What was one of the worst properties in that stretch of SE Stark Ave. is now one of the best due to an owner who believes in investing in his real estate.

Parkway Apartments
Corvallis, OR

• Type: Refinance Apartments
• LTV: 75%
• Loan Amount: $2,235,000
• Loan Type: Purchase
• Notes: Refinance of a medium sized apartment project in Corvallis, OR. The borrower was using the cash proceeds from the loan to replenish cash reserved used for upgrading the units and some exterior work with the balance to be used for other purchases. The ownership group was strong and CLG faced no issues with the request other than sourcing the loan with a lender familiar with the Corvallis market.

Springfield Apartments
Springfield, OR

• Type: Apartments
• LTV: 70%
• Loan Amount: $1,057,000
• Loan Type: Refinance
• Notes: This refinance was complicated by an out of state borrower and a serious credit situation needing explanation. In the end, CLG was able to work with the lender on the credit issue and still obtain a high leverage cash-out refinance which paid off higher interest revolving debt used for capital improvements at the property..

Star Krest Apartments
Portland, OR

• Type: Apartments
• LTV: 65%
• Loan Amount: $2,470,000
• Loan Type: Refinance
• Notes:This was a cash-out refinance for a high net worth borrower with over 35 properties in the portfolio. Star Krest when purchased needed several hundred thousand dollars of renovation and repair work coupled with increasing rents to market. Doing both increased the value of the property and allowed for a Freddie Mac 10-year fixed rate loan with interest only payments for the full 10 years.