Portland Mixed-Use Project Moves Ahead With $460M Loan
Commercial Property ExecutiveBy Gail Kalinoski
George Smith Partners secured the financing for BPM Real Estate Group from an affiliate of Mosaic Real Estate Investors. The 35-story development will bring a five-star hotel, office, residential and retail space.
Block 216, a 1.1 million-square-foot mixed-use development in downtown Portland that will feature a 35-story tower with a hotel, residential units, office and retail space, is moving forward with a $460 million four-year construction loan secured by George Smith Partners from Mosaic Real Estate Investors. With the funding in place, developer BPM Real Estate Group expects to break ground this summer and complete construction in 2023