In Gresham, Oregon, a repeat sponsor saw opportunity in a neighborhood retail center with both solid bones and room to grow. Having built a track record of successfully acquiring and operating retail centers throughout the Portland metropolitan area, this seasoned sponsor came ready with a plan to unlock more value.

RRA Capital provided a $27MM bridge loan supporting the acquisition, capex and lease-up of this 264,634 square-foot retail center. Originally built in 1987, the property spans across 25.65 acres, with parking spots for 1,266 vehicles.

It features a diverse mix of tenants including national brands. The site also benefits from its location: directly adjacent to a future library and just a short walk from two Light Rail stations, bringing steady walkability and close access to the greater Portland metropolitan area.

The sponsor plans to refresh the property’s look by giving the center a modern and inviting presence. Longer-term, the strategy includes creating flexibility to sell parcels individually.

This deal highlights our sponsor’s local expertise and vision. With targeted leasing, cosmetic upgrades, and the right team to execute we’re excited to see the value in this financing.