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Grocery-anchored center in Sherwood secures $13.65M refinancing
The seven-year, fixed-rate non-recourse loan will refinance maturing debt for Parkway Village, a 45,653-square-foot retail center anchored by Walmart.
Gantry secured a $13.65 million permanent loan to refinance maturing debt for Parkway Village at Sherwood, a Portland-area retail center located at 21174-21430 SW Langer Farm Parkway in Sherwood, about 15 miles from the city center.
The property spans 45,653 square feet and is anchored by Walmart. Tenants include Starbucks, Chipotle, The Old Spaghetti Factory, Panera Bread, Crumbl Cookies, Club Pilates, and Legacy GoHealth Urgent Care.
The loan is structured as a seven-year fixed-rate, non-recourse facility with 30-year amortization. Gantry will service the debt, with Blake Hering and Kristin Lapinskas from Gantry’s Portland production office representing the borrower, a private real estate investor.
In comments included with the transaction, Gantry said its life company correspondents have continued to be a consistent source of loans for stabilized grocery-anchored and neighborhood retail centers where debt service aligns.