Priority Capital Advisory Secures $12 Million Bridge Loan for Vancouver Multifamily Development

Priority Capital Advisory has recently finalized a $12 million bridge loan for Hudson West, a newly constructed 50-unit Class A multifamily property situated at 2411 Broadway Street in Vancouver, WA. This financial maneuver was orchestrated for Cascadia Development Partners, effectively replacing an expiring construction loan and providing the necessary leeway for lease-up and stabilization phases. Zachary Streit, Founder and President of Priority Capital Advisory, highlighted the deal's critical aspects, stating, 'This was a deal where timing and structure were everything.' The firm's aggressive approach and competitive lender process culminated in a non-recourse lease-up bridge loan that aligned with the client's strategic objectives and safeguarded their equity.

Hudson West, currently in its lease-up phase, boasts a Scandinavian-contemporary design across its three-story structure, featuring 11 studios, 25 one-bedrooms, and 14 two-bedrooms. Each unit is equipped with private balconies, gourmet kitchens, walk-in closets, and premium finishes. The property also offers a coffee bar, various common areas, and 39 secured parking spaces. Its prime location in a historic district near Main Street and proximity to the $1.6 billion Vancouver Waterfront masterplan enhances its appeal, offering residents access to urban amenities without the burden of Portland's state income tax.

Scott Lindgren, Partner at Cascadia Development Partners, commended Priority Capital Advisory's performance, noting their consistent delivery under pressure. This transaction marks the fifth collaboration between the two entities, further solidifying their partnership. Since its inception just over a year ago, Priority Capital Advisory has successfully closed $450 million in debt financing across 20 transactions, earning a reputation for its dynamic approach and ability to secure liquidity for high-caliber sponsors in challenging markets.

For more information on Priority Capital Advisory, visit https://www.prioritycapitaladvisory.com. Details about Cascadia Development Partners can be found at https://cascadiadevelopmentpartners.com/.