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Oregon Mezzanine Lenders
List of mezzanine lenders for Oregon real estate. Mezz loans are primarily for the acquisition or refinance of commercial real estate, but some lenders offer it for residential investments. Oregon property investors can add mezzanine junior financing to their capital stack to get higher leverage.
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Compelted Mezzanine Loans in Oregon
RRA Capital, a direct private CRE lender, funded a $1,625,000 mezzanine loan secured by a retail center in Gresham, Oregon. Built in 1978, the shopping center consists of two buildings totaling 42,231 rentable square feet and is currently 83% occupied. The property sits on a 5.54-acre site with 257 parking spaces. As part of the transaction, one of the two buildings will be demolished to make space for a pad which will be ground leased to Chick-Fil-A. The lease was signed prior to closing and many of the tenants in the building slated for demolition have relocated to the remaining building. RRA Capital was able to provide a 2-year, mezzanine loan, working collaboratively with the senior mortgage lender and sponsorship to close the transaction quickly. The $1,625,000 mezzanine loan will be allocated across Chick-Fil-A’s site improvements, leasing costs, and other capital expenses. The loan was structured to included reserves to cover expenses prior to rent commencement. This mezzanine loan was funded in December 2020.