March 27, 2023
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Multifamily Acquisition of the Week: Meadowland Apartments in Portland, Ore.
Glencrest Group, a multifamily investment company, acquired Meadowland Apartments — a 168-unit garden-style apartment complex in Portland — from the seller, NBP Capital. The sale was arranged by JLL Capital Markets, who worked on behalf of the new owner to originate a 10-year, fixed-rate loan through Freddie Mac. The property will now be known as Township Eastside. More
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Hotels with historically strong cash flow will see available capital
Hotel financing will be available — especially for hotels with strong operating histories — but will be challenging for the balance of 2023. Lenders are eager to lend on hotels but have decided to dial back leverage due to uncertain pricing conditions. There will be plenty of fixed- and floating-rate financing, but indices have resulted More
