Progress Ridge Townsquare Receives $42 Million Loan

by Nate Hunter

Portland, Ore. — Progress Ridge Townsquare is 86.5 percent leased.

Portland, Ore.  — Progress Ridge Townsquare, a 213,809-square-foot retail center in Portland, has received $42 million in financing. The 10-year, 3.7 percent fixed-rate loan will replace a construction loan on the property. Progress Ridge is 86.5 percent leased to New Seasons, Cinetopia, Ace Hardware, Play Boutique, Fuddruckers, Umpqua Bank and Gentle Dental. Casey Davidson and Lloyd Minten of HFF arranged the loan on behalf of Gramor Development. HFF will also service the loan.

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