Apartment Debt & Equity
- Portland, OR
- 167-Unit Apartment Building
- 125,000 GSF
Daniel Natsch was retained by an apartment developer to seek debt and equity financing for a 167-unit apartment project in Southeast Portland, Oregon with a total capitalization of $40 million.
The developer lost their initial capital partner as a result of the pandemic’s effect on the capital markets and needed a replacement capital stack late in the pre-development process. Daniel solicited debt and equity financing from various sources of various types and the result was a recourse loan at 65% loan-to-cost paired with institutional preferred equity and a small syndication, which was led by the client.
Having the ability to take both the shorter-term perspective of a lender and the longer-term perspective of an equity partner enabled Daniel to navigate the complexities of this transaction. Working with two institutional partners created a burdensome administrative process during closing, and Daniel supported the client throughout the process.
“Ethos truly understands the ins and outs of financial models, appraisals, and the financing solicitation process. They are able to leverage this knowledge to both find the best partners for the deal, but more importantly to get it closed.”—
- Multifamily Development Firm