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.
