Northmarq arranges $31.76M sale, $26.8M financing of Gresham Town Fair retail center

GRESHAM, Ore. — Northmarq’s Pacific Northwest Commercial Investment Sales team led by Kevin Adatto, Sean Tufts and Joe Dugoni, in collaboration with its Denver Debt + Equity team led by Michael Salzman, successfully arranged the sale and acquisition financing of Gresham Town Fair, a 264,634-sq.-ft. retail community center located at 300-600 NW Eastman Pkwy in Gresham, Oregon.

Northmarq arranged the $31.76 million sale on behalf of the seller, PK I Gresham Town Fair, LLC. The buyer was Gresham Town Fair Venture, LLC.

"We are excited to witness the transformation of this shopping center under its new ownership,” Adatto said. “As Gresham continues to grow and attract new tenants and services, this property is well-positioned to thrive. Our collaboration with the D+E team ensured a seamless transaction, and we greatly appreciate the efforts of both the selling and buying entities, as well as our entire team, in bringing this deal to a successful close.”

Northmarq arranged the $26.8 million bridge loan financing on behalf of the borrower, Rhino Investment Group, through a correspondent relationship with RAA Capital.

Built in 1987, Gresham Town Fair is a multi-tenant retail community center located on 26 acres near NW Division Street and NW Eastman Parkway. The property is 74% leased with a diverse and seasoned mix of national and regional retailers.