CBRE Arranges Sale And Acquisition Financing For The Century At North Cook Apartments

07 Mar 2018

CBRE Arranges Sale And Acquisition Financing For The Century At North Cook Apartments

CBRE is pleased to announce the sale of The Century at North Cook (The Century), a 104-unit apartment community in Portland, OR to KI-Mountain Park, LLC for an undisclosed price. Phil Oester, Joe Nydahl and Josh McDonald of CBRE’s Northwest Multifamily Institutional Investment team negotiated the sale on behalf of the seller, Cook Street Lofts, LLC. Nick Santangelo of CBRE Debt & Structured Finance secured a 10-year acquisition loan at an all-in coupon rate below 4 percent through Freddie Mac.

With five stories and 104 units, The Century offers studio, one and two bedroom homes with contemporary finishes and features. High ceilings and large windows create a bright and spacious living space. Tenants enjoy modern quartz countertops, undermount sinks, stainless steel appliances, plank flooring, air conditioning, USB charging outlets and full-size washers and dryers in each unit. Built in 2016, The Century features a rooftop deck with stunning views of Portland skyline and barbecue grills, as well as a spacious lobby that adjoins a local coffee shop and 24-hour fitness center, mail center, pet washing station and secure bike storage along with repair stand.

“The Century at North Cook is a trophy asset in the heart of North Williams, one of Portland’s most dynamic and sought-after neighborhoods,” says Phil Oester, Senior Vice President. “The community’s contemporary features and finishes offer great appeal to the young professionals relocating to Portland or those who are born and raised Portlandia natives.” 

The property mailing address is 3270 N Vancouver Avenue, Portland OR 97227. At the time of sale, the property was stabilized.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.