Gantry has secured a $27.8 million permanent loan to refinance maturing debt for the Hazel Dell Marketplace, a grocery-anchored center located at 408 NE 81st St in Vancouver, Washington.
The 28-acre property offers 227,680 rentable square feet across 11 buildings featuring big box tenants including Safeway, Ross, Marshalls, and Parkrose Hardware. The site also has restaurant, professional service, beauty, and health and wellness tenants.
Gantry’s Blake Hering, Principal, and Abi Hunter, Associate, with the firm’s Portland production office, represented the borrower, a family office owner and developer partnership between two well-established family office groups. The fixed-rate, ten-year loan features an introductory interest-only period and then 30-year amortization. Gantry will service the loan.
“Hazel Dell is a standout performer in Vancouver with a strong roster of popular retailers and restaurants with high occupancy across the center’s inline and pad buildings,” said Hering.
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