Oregon Construction Lenders for Commercial Real Estate
Are you building a commercial property in Oregon? On this page you'll find a list of private construction lenders for commercial real estate ground-up projects in Oregon's urban areas. The maximum loan-to-completed value (LTCV) for most lenders is 70%. You typically need to contribute 25%-35% of the project costs and have cash reserves. Development experience is always required. Most lenders will require the project to be fully entitled and shovel ready. Some lenders will consider funding up to 50% of the land acquisition. Our platform has construction lenders for various types of commercial real estate, including industrial, retail, self-storage, hotels, gas stations and others.Searching...
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Funded CRE Construction Loans in Oregon
Ground-Up Construction Loan for 3-Unit Retail Building in Salem, Oregon
$1,388,000
Precision Capital, a direct private lender, funded a $1,388,000 construction loan for a 3-unit retail building in Salem, OR. The construction budget was $1,388,144 and we funded 100% of the budget in 1st lien position. The Borrower only contributed their equity in the land. The completed value was $2,000,000 so our loan-to-completed value was 69%. The Borrowers were experienced with running convenient stores. They purchased the land and completed their first ground-up construction project! There were 3 separate units inside the building; a convenience store, a donut shop, and a bar. Owners will occupy 2 units and lease out the 3rd unit. The subject property has an approximate square footage of 6,000 set in a 42,689-square-foot lot. The Borrower had good credit. They plan to refinance into permanent financing once the new building is fully occupied. The interest rate was 12.99% and the loan term was set at 24 months. We charged 3% origination points, and the broker earned a $13,881 commission. This CRE ground-up construction loan was funded in September 2018.
Private Construction Loan for Mixed-Use Development in Fairview, Oregon
$12,500,000
Parkview Financial, a direct private lending firm, provided a $12.5 million construction loan for a new mixed-use project in Fairview, OR, a suburb of Portland. Situated on 1.59 acres, the two-building project will include 71 apartment units and 4,267 square feet of ground-floor retail space in one of the buildings. Construction has commenced with an expected delivery date of November 2021. The unit mix will include 32 one-bedroom units and 39 two-bedroom units with an average size of 847 square feet as well as three retail units. In addition to the retail component, the residents will be able to enjoy other onsite amenities including a fitness center, management office, and a bike storage and repair room. This marks Parkview’s second loan with the developer. In 2018, they built a 180-unit multifamily project next to the subject property. This private construction loan was funded in January 2021.