NEWPORT BEACH, CA – January 7, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces $96.5 million in financing for the development of 100 Columbia, a 348-unit, Class A+ high-rise multi-housing community in the Portland CBD.
The HFF team worked on behalf of the developer, Alamo Manhattan, to secure the four-year construction loan through PCCP, LLC. As previously announced, HFF also assisted Alamo Manhattan in securing joint venture equity for the project in a transaction closed in May 2018.
100 Columbia is located on a 0.92-acre site that spans the block bound by SW Clay Street, SW 1st Avenue, SW Columbia Street and SW 2nd Avenue. The site, which has a WalkScore® of 93, will support what will be the nearest high-rise residential building to the Willamette River in the CBD. The site is also one block from Tom McCall Waterfront Park to the east and Keller Auditorium to the west and is within three blocks of the CBD’s core job center that is home to more than two million square feet of high-rise office.
Due for completion in 2020, 100 Columbia will include a mix of studio, one- and two-bedroom ultra-luxury units averaging 817 square feet. The 20-story development will feature premium interior finishes and community amenities, including an expansive 15,000-square-foot, sixth-floor amenity terrace and a 20th-floor rooftop resident lounge, which will open onto an observation deck offering unobstructed views of the downtown skyline, Mount Hood and the river. The property will also include a 16th floor rooftop terrace. In addition to the multi-housing component, 100 Columbia will incorporate nearly 15,000 square feet of ground-floor retail, which will provide immediate convenience for residents and office employees in the surrounding area.
The HFF debt placement team representing the developer included senior director Mark Erland and director Matt Benson along with director Charlie Watson.