PCCP, LLC has recently provided a $45 million senior loan to a joint venture between Alamo Manhattan and MetLife Investment Management (MIM) for the refinancing of The Dylan, a 232-unit multifamily property located in Portland, Oregon. A team from JLL led by Executive Managing Director Charles Halladay and Director Charlie Watson successfully secured the non-recourse loan on behalf of Alamo Manhattan and MIM.
According to Matt Cochran, Managing Director at PCCP, “We are delighted to refinance this newly constructed apartment community for our clients. The Dylan’s prime location in one of Portland’s most sought-after neighborhoods offers residents access to various amenities as well as convenient proximity to major employers like OHSU.”
Completed in 2022 on just over an acre of land, The Dylan stands eight stories tall in Portland’s South Waterfront district. It boasts a unit mix comprising 19 studios, 185 one-bedroom units,and28 two-bedroom units.
This financing news was originally published on Connect CRE website.
