Recent Transactions

Fortis Construction

The subject is the second floor of a two-unit office condominium totaling 9,500 SF. The building, originally completed in 1960, was converted to condominium offices along with a significant renovation in 2005. It is located in the Goose Hollow neighborhood, close to The Multnomah Athletic Club and Providence Park. MMCG was able to meet the client goal of loan payoff in eight years. The loan was very cost efficient and has other attractive features.

Loan Size: $1,060,000
Loan Term: 8 years
Amortization: 8 years

Lender: Local bank

Copeland & Stumptown Buildings

The subject is 40,000 SF site with three commercial buildings and a surface parking lot located in the heart of the Central Eastside. Stumptown Coffee Roasters selected two of the subject buildings as their headquarters in 2012. The area continues to experience a significant influx of creative office tenants and other retailers. MMCG was able to meet the client's objectives of a long-term, fully amortizing loan.

Loan Size: $2,700,000
Loan Term: 15 years
Amortization: 15 years

Lender: MMCG Correspondent Life Company

The Belmont Apartments

The Belmont is a newly constructed, 16-unit apartment building with 1,970 SF of ground floor retail. It is located in the heart of the Belmont District in Portland, OR. The building was constructed to LEED standards and includes both bicycle and 10 on-site parking spaces. Features of the loan include a 20-year fixed rate, non-recourse, loan assumption, and flexible prepay for years 6-20 at only 1.0%.

Loan Size: $2,240,000
Loan Term: 20 years
Amortization: 20 years

Lender: MMCG Correspondent Life Company

Cannery Row Apartments

The subject property is a recently-completed, 101-unit, two building apartment community in Historic Old Town Sherwood, Oregon. The property has a unique, urban form and common area amenities that have contributed to strong market demand. MMCG was able to achieve optimal leverage and pricing, as well as early close of financing which allowed client to lock rate.

Loan Size: $12,500,000
Loan Term: 10 years
Amortization: 30 years

Lender: Fannie Mae

IDM Multi-Family Portfolio

The IDM portfolio includes four new apartment properties--Division Street Lofts, The Grove at 72nd, East Twelve Lofts, and Hawthorne 26 Apartments (403 units combined). These attractive, multi-housing communities are located in Vancouver and east Portland neighborhoods. This life company loan locked rate during construction and funded immediately upon completion. The properties achieved strong market interest and prompt stabilization. 

Loan Size: $52,300,000
Loan Term: 15 years
Amortization: 30 years

Lender: Life Company

Orchard's Plaza Shopping Center

Orchard's Plaza is a 29,750 SF shopping center anchored by Safeway and Dollar Tree located in Vancouver, WA.  Lowe's and Fred Meyer are adjacent, combining to create strong exposure. The subject is situated on 2.41 acres with 104 parking spaces.  It was constructed in 1989 and enjoys strong historical occupancy. 

Loan Size: $2,300,000
Loan Term: 10 years
Amortization: 25 years

Lender: MMCG Correspondent Life Company

Bank of America Building

The subject is an 18-story, 332,325 SF Class A office building in Downtown Portland. The property is situated at the foot of the Morrison Bridge, the gateway to Portland's CBD. The property includes a two-level, underground parking garage totalling 86,793 SF. One year forward rate lock.

Loan Size: $36,000,000
Loan Term: 10 years
Amortization: 25 years

Lender: Life Company

Cheryl Lynn Apartments

The subject is a 56-unit, multi-family complex located on a 4.56-acre site. There are a total of seven apartment buildings situated on site with 106 parking spaces. Originally constructed in 1990, most of the units have been upgraded.   

Loan Size: $1,600,000
Loan Term: 20 years
Amortization: 20 years

Lender: MMCG Correspondent Life Company

Aventerra Apartments

The subject is a 4-story apartment building constructed in 2008.  The high quality property consists of 34 units with a ground floor corner retail space of 1,250 square feet.  There are 35 parking spaces within a stackable parking system.  MMCG was successful finding the Borrower a 15 year fixed rate loan with 30 year amortization.  The loan has a very flexible prepayment penalty and is assumable in the event of future sale.    

Loan Size: $5,200,000
Loan Term: 15 years
Amortization: 30 years

Lender: Life Company

Conway Redevelopment - Block 296

Melvin Mark Capital Group arranged $14.7 million in joint venture equity for the development of New Seasons Slabtown Marketplace and LL Hawkins, a new urban LEED Gold 113-unit multi-family grocery-anchored project. The project occupies a 92,000 SF superblock in the new Slabtown District in northwest Portland.


Fifth Avenue Building

The subject is a ten-story, office building renovated in 2000. Both eBay and OHSU have recently occupied space within the building. eBay has continued to expand and now has a significant presence within the property. The building totals 169,263 RSF and includes 59 surface parking spaces. Ground floor tenants include KinderCare, FedEx, and 24 Hour Fitness.

Loan Size: $17,000,000
Loan Term: 10 years
Amortization: 25 years

Lender: Life Company

Kellogg Square

Kellogg Square is a retail center comprised of six tenants and net rentable area of 21,630 SF on 1.25 acres. The subject is well located along a major arterial in Milwaukie, OR.  MMCG was able to secure long term fixed rate financing with one of their correspondent life company lenders.

Loan Size: $900,000
Loan Term: 15 years
Amortization: 25 years

Lender: Life Company

The Ocean

The Ocean consists of two commercial buildings totaling approximately 7,400 square feet of net rentable area.  The multi-tenanted buildings are occupied by micro-restaurants other food related companies.  The property is very well located close-in Southeast Portland.  The redevelopment is a great example of adaptable reuse of existing buildings.

Loan Size: $1,275,000
Loan Term: 7 years
Amortization: 25 years

Lender: Bank

Metropolitan Apartments

The Metropolitan is a 57-unit apartment complex located in one of the most popular neighborhoods in Portland. The property has a mix of units ranging in size form 140-860 SF. The 1930 vintage apartment building has been completely updated, yet still retains its vintage charm. Melvin Mark Capital Group was able to secure a forward rate lock from one of their non-recourse correspondent lenders.

Loan Size: $2,400,000
Loan Term: 10 years
Amortization: 30 years

Lender: Correspondent Life Company

TryMax Apartments

Trymax is an attractive, 42-unit apartment complex which was built in 1992. The property consists entirely of two-bedroom/one-bathroom apartments. There are a total of ten buildings including one duplex building which houses the on-site managers. Each unit has a full sized washer and dryer.  

Loan Size: $2,250,000
Loan Term: 5 years
Amortization: 30 years

Lender: Bank

Millennium Park Apartments

Subject is a 132-unit multi-family complex located on a 5.83-acre site. The property was constructed in 1999 and consists of 11 apartment buildings. Amenities include an outdoor swimming pool, playground, and fitness center with clubhouse. The Borrower took advantage of the low interest rate environment and locked in a 30 year fixed rate! The life company lender also provided nice features for future flexibility.


Loan Size: $6,900,000
Loan Term: 30 years
Amortization: 30 years

Lender: Life Insurance Company

Thurman Building

Subject was built in 1908 as a warehouse/manufacturing facility and converted to commercial office space in 1998. At that time an eastern expansion was added, as well as a fourth floor. The subject enjoys an excellent location for creative space users.  The property totals 87,775 square feet and offers 121 parking stalls.


Loan Size: $7,800,000
Loan Term: 2 years
Amortization: 2 years

Lender: Bank

The Janey Apartments

The Janey is a LEED Platinum, 50-unit apartment building located in the heart of the vibrant Pearl District in Portland. The complex has a walk score of 98. The high quality project was completed and stabilized in 2012 and consists of studio and one-bedroom apartments; 2,618 SF of ground floor retail; and a host of amenities such as bicycle storage, personal storage, on-site concierge, and mechanical parking system.


Loan Size: $8,500,000
Loan Term: 10 years
Amortization: 30 years

Lender: Life Insurance Company

Urban Multifamily Portfolio

The subject is a three-property portfolio located in Northwest Portland. All properties are high-quality, well-located and newly-constructed multifamily. Each has achieved LEED Gold certification (or higher) with a walk score of 90+. MMCG was successful in securing fixed-rate financing prior to stabilization with a life company.

  • Franklin Ide is a six-level, 92-unit apartment building located on NW Lovejoy and 23rd Avenue. 

  • Benevento is a four-story, mixed-use project at the corner of NW 23rd Avenue and Raleigh Street. The property features 24 units and two prominent restaurants--Lampoc Brewery and St. Jacks. 

  • Sawyer's Row is a 40-unit, three-story apartment complex located close to the future Conway/New Seasons development site. 

Loan Size: $29,100,000
Loan Term: 10 years
Amortization: 30 years

Lender: Life Company

2&Taylor

The property is a mixed-use creative office building located in downtown Portland, Oregon and will be completely renovated for a creative end-user. At completion, the building will be 73,553 GSF which includes 9,279 RSF of retail and 49,641 RSF of office space. Constructed to Green Globes standards, 2&Taylor will include operable windows, energy efficient lighting, and building systems as well as secure bike storage. The property has just secured its first tenant, Jama Software, which will occupy 50% of the office space


Loan Size: $10,500,000
Loan Term: 2 years
Amortization: 25 years

16 & Savier

The property consists of three commercial buildings situated on three separate tax parcels in Northwest Portland. The area has historically been industrial; however, many of the buildings have been upgraded to office, retail and residential with the expansion of the Pearl District and NW 23rd.  Tenants include Mio Sushi and The Guild.


Loan Size: $1,100,000
Loan Term: 10 years
Amortization: 20 years

Lender: Life Company

Pinewood Station

Pinewood Station is a 49-unit apartment located near MAX lightrail in Gresham, Oregon. The property was built in 1968 and consists of (12) two-story buildings totaling 40,520 SF. Many of the interior units have been upgraded with new flooring, windows, and siding. The property has on-site laundry facilities and a seasonal pool.


Loan Size: $1,950,000
Loan Term: 5 years
Amortization: 30 years

14th & Jefferson

The subject is a very well located office building in SW Portland (CBD). NEXTITLE occupies the entire 4,000 square foot building. The property also includes a separate surface parking lot which is a huge amenity in the area. MMCG was able to secure a life company solution to the Borrower request for long term fixed rate financing.


Loan Size: $600,000
Loan Term: 15 years
Amortization: 15 years
Lender: Life Company

Hillsboro Industrial

The subject property is a 164,027 SF industrial building located in Hillsboro, OR. The property was constructed in 1965 of wood post and beam with metal exterior. The building contains nine loading docks, five grade-high doors, 4000 amps of pwer, 12-17' clear height, and florescent lighting. The property is rail served and situated on 6.5 acres of land in the Sunset Corridor area.


Loan Size: $2,000,000
Loan Term: 10 years
Amortization: 20 years

Sequoia Village Apartments

Sequoia Village is a 72-unit, gated apartment project located walking distance from Clackamas Town Center. The property consists of (12) separate buildings, garages and surface parking. Other amenities include new sport court, washer/dryer in units, access to a community swimming pool, and a club house. The borrower acquired a partially-completed project and brought it to completion. The loan provides flexibility for future development of entitled land.


Loan Size: $8,000,000
Loan Term: 7 years
Amortization: 30 years
Lender: Bank

Emerson Courtyard

Emerson Courtyard is a retail and office mixed-use property near Tacoma, Washington. The high quality, well maintained property is located at a key intersection in a well established community. With excellent visiblity on a prominent, high traffic corner, the subject property has ample parking and large courtyard. Canadian borrower with no prior assets in the United States.


Loan Size: $2,700,000
Loan Term: 5 years
Amortization: 30 years
Lender: CMBS

Durham Office Center

The subject property is a two-story office building located contiguous to the Bridgeport Village Shopping Center in Durham, Oregon. The Class A property was built in 2001 and designed for multi-tenant use. Totaling 2.21 acres and configured with 125 parking spaces, the property has excellent accessibility to major freeways and visibility on SW Boones Ferry Road.


Loan Size: $3,575,000
Loan Term: 10 years
Amortization: 25 years
Lender: Life Company

Cedar Hills Ivy Club Apartments

The subject property is a 180-unit, multi-family complex located on a 5.37 acre site. The property consists of seven buildings, pool, Jacuzzi, barbeque area, two recreation rooms, and an exercise room. Originally constructed in phases from 1970-1974, several buildings have been remodeled and updated.


Loan Size: $8,500,000
Loan Term: 15 years
Amortization: 25 years
Lender: Life Insurance Company

Conifer Place Apartments

The subject property is a 162-unit, multi-family complex located on a 7.91 acre site. There are a total of 13 apartment buildings, one common building, and 267 parking stalls. MMCG was delighted to obtain 30-year fixed rate life company financing for this attractive and well-located asset in Corvallis, Oregon


Loan Size: $8,500,000
Loan Term: 30 years
Amortization: 30 years
Lender: Life Insurance Company

Millikan Pointe Retail

The subject consists of two high quality, one-story, wood frame brick veneer retail buildings with a combined gross rentable area of 15,095 SF. The improvements are situated on approximately a half-acre parcel. The retail center benefits from proximity to the Nike Campus, Tektronix, Intel and Reser's Fine Foods and a new multi-family development. The asset is 93% occupied.


Loan Size: $4,350,000
Loan Term: 10 years
Amortization: 30 years
Lender: CMBS

Albina Building

The subject property consists of two industrial buildings with 31,180 combined square feet. The buildings are situated along North Interstate between Albina and Lewis Avenues near the lower Mississippi neighborhood and Rose Quarter. The property benefits from a TriMet lightrail stop directly across N. Interstate Avenue. The buildings are currently 100% occupied by three tenants.


Loan Size: $975,000
Loan Term: 15 years
Amortization: 20 years
Lender: Life Company

Pettygrove Medical Center

The Pettygrove Medical Center is a 25,623 SF medical office building located in Northwest Portland. With eight tenants, the property is 100% leased in spaces ranging from 367 SF to 6,057 SF. The property consists of four, separate buildings constructed in the early 1970s. The property has on-site parking and is located two blocks from Good Samaritan Hospital and Linfield Nursing College.


Loan Size: $3,225,000
Loan Term: 15 years
Amortization: 25 years
Lender: Life Company

650 Fifth Street

The five-story office building was originally constructed with reinforced concrete in 1924 as a warehouse and was renovated into office space in 1981. Located in the diverse South of Market District, this 60,000 SF building is in high demand with its proximity to the Caltrain commuter rail station, Mission Bay development, and UC San Francisco campus.


Loan Size: $12,500,000
Loan Term: 10 years
Amortization: 25 years
Lender: Life Company

The Water Tower

The Water Tower is an attractive, mixed-use property located in the John's Landing neighborhood. The well-known landmark consists of office and retail totaling approximately 121,443 RSF and includes retail tenants such as Pier 1, Postal Annex and Honey Baked Ham. With recent updates to the interior and exterior common areas as well as property landscaping and close proximity to Downtown Portland CBD, OHSU and the South Waterfront District, the property is highly desirable.


Loan Size: $12,600,000
Loan Term: 10 years
Amortization: 30 years
Lender: CMBS Lender

PG&E Building

The subject property is very well located between the Yerba Buena and South of Market submarkets. The property has great exposure; located on a major thoroughfare next door to the Moscone Convention Center and Intercontinental San Francisco Hotel. The two-story office building was renovated in 1997, prior to occupancy by the PGE energy conversation center. Renovations included seismic upgrades, utility service, HVAC upgrades, and roof cover.


Loan Size: $3,000,000
Loan Term: 15 years
Amortization: 15 years
Lender: Life Company

414-416 Thirteenth Street

The subject property is a mixed use office over retail building located in Oakland's City Center. Access to shopping, restaurants, and public transportation make this a very attractive location. Interior spaces provide a brick and timber feel in a downtown setting. The property was built in 1912; however, it was completely renovated including seismic retrofit in 2000.


Loan Size: $2,400,000
Loan Term: 9 years
Amortization: 22 years
Lender: Life Company

Canby Townhouse Apartments

The subject property is a two-story, garden style apartment complex built in 1968. The property is located in Canby, Oregon and consists of five separate buildings with a total of 35 units.. The property features townhouse style units with a tenant base for 26 years. Capital improvements included new vinyl windows, insulation and new roofs on four buildings.


Loan Size: $1,520,000
Loan Term: 10 years
Amortization: 30 years
Lender: Fannie Mae

Loan-to-Value Ratio: 79.1%

Lombard Plaza Apartments

The subject property is a multi-family complex in Beaverton, Oregon. The 121 units range in size from 1 bedroom/1 bath to 3 bedroom/2 bath apartments and are spread over 15 buildings. Amenities include a pool, clubhouse, sauna, on-site laundry facilities and approximately 250 off-street parking spaces.


Loan Size: $4,000,000
Loan Term: 15 years
Amortization: 15 years
Lender: Life Insurance Company

Whispering Oaks Apartments

The subject property is a 52-unit, garden-style apartment complex on 1.97 acres. The five, two-story buildings feature all two bedroom/one bath 800 SF units. The 1.17 parking ratio includes 49 covered carport spaces and 12 open asphalt spaces.


Loan Size: $4,575,000
Loan Term: 7 years
Amortization: 30 years
Lender: Bank

Aaron's Commercial Building

The subject property is a renovated 11,113 SF single tenant retail building on a 0.45 acre site located in North Portland. The property, updated with new exterior and interior finishes and mechanical systems in May 2012, has convenient access to I-5 and Portland Blvd.


Loan Size: $1,330,000
Loan Term: 10 year fixed
Amortization: 30 years
Lender: Bank

Parkside Apartments

We are pleased to announce the financing of the Parkside Brentwood Apartments. The subject is a 60 unit, garden style apartment community constructed in 1972 and renovated in 2006. The property has experienced high occupancy for several years and was nearly 97% occupied at the time of funding. In this case, the Borrower was able to obtain a long term, low 4% rate and non-recourse loan.


Loan Size: $5,786,000
Loan Term: 10 years
Amortization: 30 years
Lender: Fannie Mae

Loan-to-Value: 76.3%

Miller Junction

Miller Junction is a one-story retail storefront building in West Seattle totaling 20,220 RSF. The property is 100% occupied by five tenants and has enjoyed excellent historical occupancy. The building was originally constructed in 1924 and has been renovated and updated over time. The borrower was able to replace shorter term bank debt with a long term, fixed rate loan from a life insurance company.


Loan Size: $2,100,000
Loan Term: 10 years
Amortization: 25 years
Lender: Life Insurance Company

230 California Street

230 California Street is a six-story office building with ground floor restaurant and bar - Perbacco & Barbacco. The 48,390 square foot building is located in the heart of the Financial District in San Francisco. The owners have done a fabulous job in upgrades to the property including elevator, lobby, and façade. In addition, office spaces now have more open floor plans and higher ceilings which is appealing to creative tenants.


Loan Size: $11,200,000
Loan Term: 15 years
Amortization: 20 years
Lender: Life Insurance Company

1900 Main Office Building

The subject property is a Class A, eight story office building constructed in 1999. It contains a total of 172,249 RSF. An adjacent, four-level concrete parking structure provides 425 stalls, which in combination with 166 surface parking spaces, provides a 3.43:1,000 parking ratio. The building is located just off the San Diego freeway, near the John Wayne airport in a master-planned business complex known as the Irvine Concourse.


Loan Size: $25,000,000
Loan Term: 10 year fixed
Amortization: 30 years
Lender: Life Insurance Company

Hawthorne Marketplace

The subject property is a retail shopping center at the northeast corner of SE Hawthorne and SE 41st Avenue. The attractive, multi-tenant property consists of 11,387 RSF. The Marketplace experienced major renovation in 2008 and is currently 100% leased. The tenant roster includes Key Bank, H&R Block, Papa Murphy's and Pita Pit


Loan Size: $3,200,000
Loan Term: 10 year fixed
Amortization: 30 years
Lender: CMBS

Stout Street Garage

The Stout Street Garage is located within the heart of downtown Denver's Central Business District, one block from Denver's 16th Street Transit Mall and close to many of Denver's largest office buildings and hotels. The 93,750 SF parking garage provides both monthly reserved and dailyl parking.


Loan Size: $3,700,000
Loan Term: 10 year fixed
Amortization: 25 years
Lender: Life Insurance Company

Bethany Village Centre

We are pleased to announce the recent financing of Bethany Village Centre, located in Portland, Oregon. The grocery-anchored shopping center contains 126,872 SF and was constructed in 1998. The attractive property was designed to complement the adjacent residential neighborhood. A QFC (Kroger) grocery store anchors the southern portion, and a Walgreens anchors the northern area.


Loan Size: $21,000,000
Loan Term: 12 year fixed
Amortization: 30 years
Lender: Life Insurance Company

Santa Rosa Southside Shopping Center

The Santa Rosa Southside is located at the corner of Yolanda and Santa Rosa Avenues. Anchored by REI, Inc. CostPlus and ToysRUs, the 120,080 SF center is very well located and a destination-type asset. The owner developed the Center in 1983 and has enjoyed very high historical occupancy.


Loan Size: $11,400,000
Loan Term: 10 year fixed
Amortization: 30 years
Lender: CMBS

Huntair Properties

The property is a 314,624 square foot industrial property well located in Tualatin, Oregon. The facility will be the new headquarters for Huntair, Inc. Improvements consist of six buildings situated on a total of 21.08 acres.


Loan Size: $13,275,000
Loan Term: 5 years
Amortization: 30 years
Lender: Bank

501-520 Third Street

The property is comprised of two office buildings of 53,434 sf, as well as two surface parking lots in Oakland, CA. The buildings were previously renovated for office use and enjoy exposed brick and timber on the interior. Occupancy has historically been very good.


Loan Size: $6,350,000
Loan Term: 10 years fixed
Amortization: 20 years
Lender: Life Company

Fifth & Taylor Parking Garage

The Fifth & Taylor Parking Garage is located at the southwest corner of Fifth Avenue and Taylor Street in downtown Portland. It includes ground floor and basement retail spaces plus 684 parking spaces located on Floors 2 through 10.


Loan Size: $12,000,000
Loan Term: 10 years fixed
Amortization: 25 years
Lender: Life Insurance Company

Aventerra Apartments

Aventerra Apartments is a four-story building constructed in 2008 and located in Berkeley, CA. The property consists of 34 units with ground floor, corner retail space of 1,250 sf. The project is situated on a 16,890 sf site and located in a vibrant area with a mix of retail, industrial and residential uses.


Loan Size: $4,500,000
Loan Term: 5 years fixed
Amortization: 25 years
Lender: Life Company

2201 Broadway

2201 Broadway is a 187,094 sf, nine-story, multi-tenant office building located in the Uptown/Lake Merritt District. This historic art deco building had significant vacancy when acquired in 2007. The current owner did an excellent job with renovation and lease up in a challenging market, culminating with this loan closing.

Loan Size: $20,000,000
Loan Term: 10 years
Amortization: 30 years
Lender: CMBS

Emerson Apartments

Emerson Apartments is a 26-unit, historical building located in North Portland. The multi-family property was renovated in 2008-2009.

Loan Size: $1,700,000
Loan Term: 9 Years
Amortization: 30 Years
Lender: Life Insurance Company

Harrison Building

The Melvin Mark Capital Group is proud to announce another new commercial real estate loan closing. The Harrison Building is a 18,827 square foot commercial building located in the Central Business District of Portland, Oregon. The building received a LEED Platinum certification in 2009.

Loan Size: $2,500,000
Loan Term: 10 Years
Amortization: 25 Years
Lender: Life Insurance Company

The Village Center at Dulles

The Village Center at Dulles is a multi-tenant retail center
totaling 308,146 sf. Our team is pleased to be have been able to secure favorable financing on behalf of our client.

Loan Size: $45,000,000
Loan Term: 10 Years
Amortization: 30 Years
Lender: Life Insurance Company

Recent Transactions

North Loring Building

The subject is an approximately 18,225 RSF industrial flex building located in North Portland. Constructed in 1929, the property caters to creative and production-oriented businesses and houses 16 tenants. MMCG provided long term financing to match the borrower long-term hold strategy. 

Loan Size: $975,000
Loan Term: 10 years
Amortization: 20 years

Lender: MMCG Correspondent Life Company

Cheryl Lynn Apartments

The subject is a 56-unit, multi-family complex located on a 4.56-acre site. There are a total of seven apartment buildings situated on site with 106 parking spaces. Originally constructed in 1990, most of the units have been upgraded.   

Loan Size: $1,600,000
Loan Term: 20 years
Amortization: 20 years

Lender: MMCG Correspondent Life Company

Aventerra Apartments

The subject is a 4-story apartment building constructed in 2008.  The high quality property consists of 34 units with a ground floor corner retail space of 1,250 square feet.  There are 35 parking spaces within a stackable parking system.  MMCG was successful finding the Borrower a 15 year fixed rate loan with 30 year amortization.  The loan has a very flexible prepayment penalty and is assumable in the event of future sale.    

Loan Size: $5,200,000
Loan Term: 15 years
Amortization: 30 years

Lender: Life Company

Conway Redevelopment - Block 296

Melvin Mark Capital Group arranged $14.7 million in joint venture equity for the development of New Seasons Slabtown Marketplace and LL Hawkins, a new urban LEED Gold 113-unit multi-family grocery-anchored project. The project occupies a 92,000 SF superblock in the new Slabtown District in northwest Portland.


Fifth Avenue Building

The subject is a ten-story, office building renovated in 2000. Both eBay and OHSU have recently occupied space within the building. eBay has continued to expand and now has a significant presence within the property. The building totals 169,263 RSF and includes 59 surface parking spaces. Ground floor tenants include KinderCare, FedEx, and 24 Hour Fitness.

Loan Size: $17,000,000
Loan Term: 10 years
Amortization: 25 years

Lender: Life Company

Kellogg Square

Kellogg Square is a retail center comprised of six tenants and net rentable area of 21,630 SF on 1.25 acres. The subject is well located along a major arterial in Milwaukie, OR.  MMCG was able to secure long term fixed rate financing with one of their correspondent life company lenders.

Loan Size: $900,000
Loan Term: 15 years
Amortization: 25 years

Lender: Life Company

The Ocean

The Ocean consists of two commercial buildings totaling approximately 7,400 square feet of net rentable area.  The multi-tenanted buildings are occupied by micro-restaurants other food related companies.  The property is very well located close-in Southeast Portland.  The redevelopment is a great example of adaptable reuse of existing buildings.

Loan Size: $1,275,000
Loan Term: 7 years
Amortization: 25 years

Lender: Bank

Metropolitan Apartments

The Metropolitan is a 57-unit apartment complex located in one of the most popular neighborhoods in Portland. The property has a mix of units ranging in size form 140-860 SF. The 1930 vintage apartment building has been completely updated, yet still retains its vintage charm. Melvin Mark Capital Group was able to secure a forward rate lock from one of their non-recourse correspondent lenders.

Loan Size: $2,400,000
Loan Term: 10 years
Amortization: 30 years

Lender: Correspondent Life Company

TryMax Apartments

Trymax is an attractive, 42-unit apartment complex which was built in 1992. The property consists entirely of two-bedroom/one-bathroom apartments. There are a total of ten buildings including one duplex building which houses the on-site managers. Each unit has a full sized washer and dryer.  

Loan Size: $2,250,000
Loan Term: 5 years
Amortization: 30 years

Lender: Bank

Millennium Park Apartments

Subject is a 132-unit multi-family complex located on a 5.83-acre site. The property was constructed in 1999 and consists of 11 apartment buildings. Amenities include an outdoor swimming pool, playground, and fitness center with clubhouse. The Borrower took advantage of the low interest rate environment and locked in a 30 year fixed rate! The life company lender also provided nice features for future flexibility.


Loan Size: $6,900,000
Loan Term: 30 years
Amortization: 30 years

Lender: Life Insurance Company

Thurman Building

Subject was built in 1908 as a warehouse/manufacturing facility and converted to commercial office space in 1998. At that time an eastern expansion was added, as well as a fourth floor. The subject enjoys an excellent location for creative space users.  The property totals 87,775 square feet and offers 121 parking stalls.


Loan Size: $7,800,000
Loan Term: 2 years
Amortization: 2 years

Lender: Bank

The Janey Apartments

The Janey is a LEED Platinum, 50-unit apartment building located in the heart of the vibrant Pearl District in Portland. The complex has a walk score of 98. The high quality project was completed and stabilized in 2012 and consists of studio and one-bedroom apartments; 2,618 SF of ground floor retail; and a host of amenities such as bicycle storage, personal storage, on-site concierge, and mechanical parking system.


Loan Size: $8,500,000
Loan Term: 10 years
Amortization: 30 years

Lender: Life Insurance Company

Urban Multifamily Portfolio

The subject is a three-property portfolio located in Northwest Portland. All properties are high-quality, well-located and newly-constructed multifamily. Each has achieved LEED Gold certification (or higher) with a walk score of 90+. MMCG was successful in securing fixed-rate financing prior to stabilization with a life company.

  • Franklin Ide is a six-level, 92-unit apartment building located on NW Lovejoy and 23rd Avenue. 

  • Benevento is a four-story, mixed-use project at the corner of NW 23rd Avenue and Raleigh Street. The property features 24 units and two prominent restaurants--Lampoc Brewery and St. Jacks. 

  • Sawyer's Row is a 40-unit, three-story apartment complex located close to the future Conway/New Seasons development site. 

Loan Size: $29,100,000
Loan Term: 10 years
Amortization: 30 years

Lender: Life Company

2&Taylor

The property is a mixed-use creative office building located in downtown Portland, Oregon and will be completely renovated for a creative end-user. At completion, the building will be 73,553 GSF which includes 9,279 RSF of retail and 49,641 RSF of office space. Constructed to Green Globes standards, 2&Taylor will include operable windows, energy efficient lighting, and building systems as well as secure bike storage. The property has just secured its first tenant, Jama Software, which will occupy 50% of the office space


Loan Size: $10,500,000
Loan Term: 2 years
Amortization: 25 years

16 & Savier

The property consists of three commercial buildings situated on three separate tax parcels in Northwest Portland. The area has historically been industrial; however, many of the buildings have been upgraded to office, retail and residential with the expansion of the Pearl District and NW 23rd.  Tenants include Mio Sushi and The Guild.


Loan Size: $1,100,000
Loan Term: 10 years
Amortization: 20 years

Lender: Life Company

Pinewood Station

Pinewood Station is a 49-unit apartment located near MAX lightrail in Gresham, Oregon. The property was built in 1968 and consists of (12) two-story buildings totaling 40,520 SF. Many of the interior units have been upgraded with new flooring, windows, and siding. The property has on-site laundry facilities and a seasonal pool.


Loan Size: $1,950,000
Loan Term: 5 years
Amortization: 30 years

14th & Jefferson

The subject is a very well located office building in SW Portland (CBD). NEXTITLE occupies the entire 4,000 square foot building. The property also includes a separate surface parking lot which is a huge amenity in the area. MMCG was able to secure a life company solution to the Borrower request for long term fixed rate financing.


Loan Size: $600,000
Loan Term: 15 years
Amortization: 15 years
Lender: Life Company

Hillsboro Industrial

The subject property is a 164,027 SF industrial building located in Hillsboro, OR. The property was constructed in 1965 of wood post and beam with metal exterior. The building contains nine loading docks, five grade-high doors, 4000 amps of pwer, 12-17' clear height, and florescent lighting. The property is rail served and situated on 6.5 acres of land in the Sunset Corridor area.


Loan Size: $2,000,000
Loan Term: 10 years
Amortization: 20 years

Sequoia Village Apartments

Sequoia Village is a 72-unit, gated apartment project located walking distance from Clackamas Town Center. The property consists of (12) separate buildings, garages and surface parking. Other amenities include new sport court, washer/dryer in units, access to a community swimming pool, and a club house. The borrower acquired a partially-completed project and brought it to completion. The loan provides flexibility for future development of entitled land.


Loan Size: $8,000,000
Loan Term: 7 years
Amortization: 30 years
Lender: Bank

Emerson Courtyard

Emerson Courtyard is a retail and office mixed-use property near Tacoma, Washington. The high quality, well maintained property is located at a key intersection in a well established community. With excellent visiblity on a prominent, high traffic corner, the subject property has ample parking and large courtyard. Canadian borrower with no prior assets in the United States.


Loan Size: $2,700,000
Loan Term: 5 years
Amortization: 30 years
Lender: CMBS

Durham Office Center

The subject property is a two-story office building located contiguous to the Bridgeport Village Shopping Center in Durham, Oregon. The Class A property was built in 2001 and designed for multi-tenant use. Totaling 2.21 acres and configured with 125 parking spaces, the property has excellent accessibility to major freeways and visibility on SW Boones Ferry Road.


Loan Size: $3,575,000
Loan Term: 10 years
Amortization: 25 years
Lender: Life Company

Cedar Hills Ivy Club Apartments

The subject property is a 180-unit, multi-family complex located on a 5.37 acre site. The property consists of seven buildings, pool, Jacuzzi, barbeque area, two recreation rooms, and an exercise room. Originally constructed in phases from 1970-1974, several buildings have been remodeled and updated.


Loan Size: $8,500,000
Loan Term: 15 years
Amortization: 25 years
Lender: Life Insurance Company

Conifer Place Apartments

The subject property is a 162-unit, multi-family complex located on a 7.91 acre site. There are a total of 13 apartment buildings, one common building, and 267 parking stalls. MMCG was delighted to obtain 30-year fixed rate life company financing for this attractive and well-located asset in Corvallis, Oregon


Loan Size: $8,500,000
Loan Term: 30 years
Amortization: 30 years
Lender: Life Insurance Company

Millikan Pointe Retail

The subject consists of two high quality, one-story, wood frame brick veneer retail buildings with a combined gross rentable area of 15,095 SF. The improvements are situated on approximately a half-acre parcel. The retail center benefits from proximity to the Nike Campus, Tektronix, Intel and Reser's Fine Foods and a new multi-family development. The asset is 93% occupied.


Loan Size: $4,350,000
Loan Term: 10 years
Amortization: 30 years
Lender: CMBS

Albina Building

The subject property consists of two industrial buildings with 31,180 combined square feet. The buildings are situated along North Interstate between Albina and Lewis Avenues near the lower Mississippi neighborhood and Rose Quarter. The property benefits from a TriMet lightrail stop directly across N. Interstate Avenue. The buildings are currently 100% occupied by three tenants.


Loan Size: $975,000
Loan Term: 15 years
Amortization: 20 years
Lender: Life Company

Pettygrove Medical Center

The Pettygrove Medical Center is a 25,623 SF medical office building located in Northwest Portland. With eight tenants, the property is 100% leased in spaces ranging from 367 SF to 6,057 SF. The property consists of four, separate buildings constructed in the early 1970s. The property has on-site parking and is located two blocks from Good Samaritan Hospital and Linfield Nursing College.


Loan Size: $3,225,000
Loan Term: 15 years
Amortization: 25 years
Lender: Life Company

650 Fifth Street

The five-story office building was originally constructed with reinforced concrete in 1924 as a warehouse and was renovated into office space in 1981. Located in the diverse South of Market District, this 60,000 SF building is in high demand with its proximity to the Caltrain commuter rail station, Mission Bay development, and UC San Francisco campus.


Loan Size: $12,500,000
Loan Term: 10 years
Amortization: 25 years
Lender: Life Company

The Water Tower

The Water Tower is an attractive, mixed-use property located in the John's Landing neighborhood. The well-known landmark consists of office and retail totaling approximately 121,443 RSF and includes retail tenants such as Pier 1, Postal Annex and Honey Baked Ham. With recent updates to the interior and exterior common areas as well as property landscaping and close proximity to Downtown Portland CBD, OHSU and the South Waterfront District, the property is highly desirable.


Loan Size: $12,600,000
Loan Term: 10 years
Amortization: 30 years
Lender: CMBS Lender

PG&E Building

The subject property is very well located between the Yerba Buena and South of Market submarkets. The property has great exposure; located on a major thoroughfare next door to the Moscone Convention Center and Intercontinental San Francisco Hotel. The two-story office building was renovated in 1997, prior to occupancy by the PGE energy conversation center. Renovations included seismic upgrades, utility service, HVAC upgrades, and roof cover.


Loan Size: $3,000,000
Loan Term: 15 years
Amortization: 15 years
Lender: Life Company

414-416 Thirteenth Street

The subject property is a mixed use office over retail building located in Oakland's City Center. Access to shopping, restaurants, and public transportation make this a very attractive location. Interior spaces provide a brick and timber feel in a downtown setting. The property was built in 1912; however, it was completely renovated including seismic retrofit in 2000.


Loan Size: $2,400,000
Loan Term: 9 years
Amortization: 22 years
Lender: Life Company

Canby Townhouse Apartments

The subject property is a two-story, garden style apartment complex built in 1968. The property is located in Canby, Oregon and consists of five separate buildings with a total of 35 units.. The property features townhouse style units with a tenant base for 26 years. Capital improvements included new vinyl windows, insulation and new roofs on four buildings.


Loan Size: $1,520,000
Loan Term: 10 years
Amortization: 30 years
Lender: Fannie Mae

Loan-to-Value Ratio: 79.1%

Lombard Plaza Apartments

The subject property is a multi-family complex in Beaverton, Oregon. The 121 units range in size from 1 bedroom/1 bath to 3 bedroom/2 bath apartments and are spread over 15 buildings. Amenities include a pool, clubhouse, sauna, on-site laundry facilities and approximately 250 off-street parking spaces.


Loan Size: $4,000,000
Loan Term: 15 years
Amortization: 15 years
Lender: Life Insurance Company

Whispering Oaks Apartments

The subject property is a 52-unit, garden-style apartment complex on 1.97 acres. The five, two-story buildings feature all two bedroom/one bath 800 SF units. The 1.17 parking ratio includes 49 covered carport spaces and 12 open asphalt spaces.


Loan Size: $4,575,000
Loan Term: 7 years
Amortization: 30 years
Lender: Bank

Aaron's Commercial Building

The subject property is a renovated 11,113 SF single tenant retail building on a 0.45 acre site located in North Portland. The property, updated with new exterior and interior finishes and mechanical systems in May 2012, has convenient access to I-5 and Portland Blvd.


Loan Size: $1,330,000
Loan Term: 10 year fixed
Amortization: 30 years
Lender: Bank

Parkside Apartments

We are pleased to announce the financing of the Parkside Brentwood Apartments. The subject is a 60 unit, garden style apartment community constructed in 1972 and renovated in 2006. The property has experienced high occupancy for several years and was nearly 97% occupied at the time of funding. In this case, the Borrower was able to obtain a long term, low 4% rate and non-recourse loan.


Loan Size: $5,786,000
Loan Term: 10 years
Amortization: 30 years
Lender: Fannie Mae

Loan-to-Value: 76.3%

Miller Junction

Miller Junction is a one-story retail storefront building in West Seattle totaling 20,220 RSF. The property is 100% occupied by five tenants and has enjoyed excellent historical occupancy. The building was originally constructed in 1924 and has been renovated and updated over time. The borrower was able to replace shorter term bank debt with a long term, fixed rate loan from a life insurance company.


Loan Size: $2,100,000
Loan Term: 10 years
Amortization: 25 years
Lender: Life Insurance Company

230 California Street

230 California Street is a six-story office building with ground floor restaurant and bar - Perbacco & Barbacco. The 48,390 square foot building is located in the heart of the Financial District in San Francisco. The owners have done a fabulous job in upgrades to the property including elevator, lobby, and façade. In addition, office spaces now have more open floor plans and higher ceilings which is appealing to creative tenants.


Loan Size: $11,200,000
Loan Term: 15 years
Amortization: 20 years
Lender: Life Insurance Company

1900 Main Office Building

The subject property is a Class A, eight story office building constructed in 1999. It contains a total of 172,249 RSF. An adjacent, four-level concrete parking structure provides 425 stalls, which in combination with 166 surface parking spaces, provides a 3.43:1,000 parking ratio. The building is located just off the San Diego freeway, near the John Wayne airport in a master-planned business complex known as the Irvine Concourse.


Loan Size: $25,000,000
Loan Term: 10 year fixed
Amortization: 30 years
Lender: Life Insurance Company

Hawthorne Marketplace

The subject property is a retail shopping center at the northeast corner of SE Hawthorne and SE 41st Avenue. The attractive, multi-tenant property consists of 11,387 RSF. The Marketplace experienced major renovation in 2008 and is currently 100% leased. The tenant roster includes Key Bank, H&R Block, Papa Murphy's and Pita Pit


Loan Size: $3,200,000
Loan Term: 10 year fixed
Amortization: 30 years
Lender: CMBS

Stout Street Garage

The Stout Street Garage is located within the heart of downtown Denver's Central Business District, one block from Denver's 16th Street Transit Mall and close to many of Denver's largest office buildings and hotels. The 93,750 SF parking garage provides both monthly reserved and dailyl parking.


Loan Size: $3,700,000
Loan Term: 10 year fixed
Amortization: 25 years
Lender: Life Insurance Company

Bethany Village Centre

We are pleased to announce the recent financing of Bethany Village Centre, located in Portland, Oregon. The grocery-anchored shopping center contains 126,872 SF and was constructed in 1998. The attractive property was designed to complement the adjacent residential neighborhood. A QFC (Kroger) grocery store anchors the southern portion, and a Walgreens anchors the northern area.


Loan Size: $21,000,000
Loan Term: 12 year fixed
Amortization: 30 years
Lender: Life Insurance Company

Santa Rosa Southside Shopping Center

The Santa Rosa Southside is located at the corner of Yolanda and Santa Rosa Avenues. Anchored by REI, Inc. CostPlus and ToysRUs, the 120,080 SF center is very well located and a destination-type asset. The owner developed the Center in 1983 and has enjoyed very high historical occupancy.


Loan Size: $11,400,000
Loan Term: 10 year fixed
Amortization: 30 years
Lender: CMBS

Huntair Properties

The property is a 314,624 square foot industrial property well located in Tualatin, Oregon. The facility will be the new headquarters for Huntair, Inc. Improvements consist of six buildings situated on a total of 21.08 acres.


Loan Size: $13,275,000
Loan Term: 5 years
Amortization: 30 years
Lender: Bank

501-520 Third Street

The property is comprised of two office buildings of 53,434 sf, as well as two surface parking lots in Oakland, CA. The buildings were previously renovated for office use and enjoy exposed brick and timber on the interior. Occupancy has historically been very good.


Loan Size: $6,350,000
Loan Term: 10 years fixed
Amortization: 20 years
Lender: Life Company

Fifth & Taylor Parking Garage

The Fifth & Taylor Parking Garage is located at the southwest corner of Fifth Avenue and Taylor Street in downtown Portland. It includes ground floor and basement retail spaces plus 684 parking spaces located on Floors 2 through 10.


Loan Size: $12,000,000
Loan Term: 10 years fixed
Amortization: 25 years
Lender: Life Insurance Company

Aventerra Apartments

Aventerra Apartments is a four-story building constructed in 2008 and located in Berkeley, CA. The property consists of 34 units with ground floor, corner retail space of 1,250 sf. The project is situated on a 16,890 sf site and located in a vibrant area with a mix of retail, industrial and residential uses.


Loan Size: $4,500,000
Loan Term: 5 years fixed
Amortization: 25 years
Lender: Life Company

2201 Broadway

2201 Broadway is a 187,094 sf, nine-story, multi-tenant office building located in the Uptown/Lake Merritt District. This historic art deco building had significant vacancy when acquired in 2007. The current owner did an excellent job with renovation and lease up in a challenging market, culminating with this loan closing.

Loan Size: $20,000,000
Loan Term: 10 years
Amortization: 30 years
Lender: CMBS

Emerson Apartments

Emerson Apartments is a 26-unit, historical building located in North Portland. The multi-family property was renovated in 2008-2009.

Loan Size: $1,700,000
Loan Term: 9 Years
Amortization: 30 Years
Lender: Life Insurance Company

Harrison Building

The Melvin Mark Capital Group is proud to announce another new commercial real estate loan closing. The Harrison Building is a 18,827 square foot commercial building located in the Central Business District of Portland, Oregon. The building received a LEED Platinum certification in 2009.

Loan Size: $2,500,000
Loan Term: 10 Years
Amortization: 25 Years
Lender: Life Insurance Company

The Village Center at Dulles

The Village Center at Dulles is a multi-tenant retail center
totaling 308,146 sf. Our team is pleased to be have been able to secure favorable financing on behalf of our client.

Loan Size: $45,000,000
Loan Term: 10 Years
Amortization: 30 Years
Lender: Life Insurance Company