Cushman and Wakefield Arranges For Class-A Multifamily

BEAVERTON, OR–Cushman & Wakefield says that its Equity, Debt and Structured Finance team served as exclusive advisor to an affiliate of J.P. Morgan Asset Management in arranging a $29 million non-recourse refinancing of Reflections at Summer Creek, a class-A suburban apartment community located in Beaverton.  The floating-rate financing was provided by HSBC.

Reflections at Summer Creek is a 93% occupied, and features 351 units in 30 buildings.  The property is ideally located in the Murrayhill submarket of Beaverton, the 4th largest city in Oregon, approximately eight miles southwest of Portland’s CBD and within close proximity to numerous retail and life-style amenities.  The refinancing proceeds will be used to upgrade 218 of the 351 units.