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PORTLAND, ORE. — PCCP has provided a $45 million senior loan to a joint venture between Alamo Manhattan and MetLife Investment Management for the refinancing of The Dylan, a 232-unit property in Portland. Charles Halladay and Charlie Watson of JLL Capital Markets Debt Advisory arranged the non-recourse loan.
The Dylan was constructed in 2022. Located at 3883 S. Moody Ave., the community offers 19 studios, 185 one-bedroom and 28 two-bedroom units. The average unit size is 724 square feet. Amenities include communal workspaces, a fitness center, resident lounge, dog wash station, private courtyard and rooftop terrace. The property also includes 6,154 square feet of ground-floor retail space and one floor of subterranean parking.