### Ethos Commercial Secures Financing for 275K-SF Portland Retail Center
Ethos Commercial Advisors has successfully arranged acquisition financing for Eastport Plaza, a 275,518-square-foot neighborhood shopping center in Portland, Oregon.
Daniel Natsch and Matthew Illias of Ethos Commercial Advisors secured a five-year fixed-rate loan with a 66% loan-to-value (LTV) ratio from a life insurance company. Raleigh Lau and Matt Martinez of SRS Real Estate Partners represented the buyer, the Hong Phat group. This marks the first time the shopping center has changed ownership since the 1990s.
The property recently faced a vacancy of 43,000 square feet after several tenants departed. However, the new owners successfully backfilled the former Joanne’s Fabrics space with a national tenant, occupying 28,000 square feet, bringing the center’s occupancy back to 95%.
Eastport Plaza is located in Portland’s Jade District at 4000 SE 82nd Ave. The center is anchored by Ross, LA Fitness, Dollar Tree, a Regal movie theater, and a mix of national and local tenants.
