Cetan Funds recently funded a loan for the purchase and rehab of a mixed-use commercial building in Portland, Oregon. This building is located on a main arterial in a rapidly growing area of Portland and is surrounded by bustling shops and restaurants.
Our borrower purchased this distressed property at a discounted price and has plans for a complete remodel, building out a space for a hair salon tenant on the ground floor, an apartment on the second floor and rent out spaces on the side of the building for food truck stalls. Once stabilized with strong cashflows, the borrow will refinance with a commercial loan from a local bank or credit union. Renovations of this commercial building in Portland are underway, and we cannot wait to see the finished product.
Loan Purpose
Location
Portland, Multnomah County, Oregon
Loan Terms
$630,000 at 10.00% interest for 24 months
