George Smith Partners Secures $460 Million Construction Loan to Fund the First Five-Star Hotel in Portland
Summary
LOS ANGELES--(BUSINESS WIRE)--George Smith Partners, a leading commercial real estate capital markets advisor, announced today that it has secured a $460 million senior construction loan on behalf of BPM Real Estate Group (BPM) for Block 216, a landmark 1.1 million-square-foot ground-up development. Our client ultimately selected Mosaic, a partner that shared the same vision and philosophy as BPM.” Portland-based BPM will begin construction of Block 216 this summer and host a ceremonial groundbreaking on Friday, July 12. Celebrating 25 years in business, George Smith Partners is a leading national provider of capital market advisory services to the commercial real estate industry. Mosaic is focused on addressing unmet needs by providing creative bridge and construction debt capital to borrowers aiming to add value to their assets through development, redevelopment and repositioning. Led by an experienced team of executives with over 100 years of combined real estate expertise, BPM has provided above-market returns and significant appreciation by investing in and building top-tier properties.