Mobile Home Park

Location: Steeves Mobile City – 2615 SE Courtney Ave, Milwaukie, OR 97222

Loan Amount: $1,300,000

Scenario – Our client’s family has owned Steeves Mobile City for 2 generations.  When their father passed away he left the 80 unit mobile home park to his children.  One wanted to keep it and one wanted to cash out.  There were inheritance taxes, bills and a large lump sum to buy out the other heir.  NWPL lent all the money they needed plus 1-year of pre-paid interest so that the next generation could get on their feet and refinance with an SBA loan down the road.

Mixed Use Retail and office building

Location: 82nd street plaza, 324 SE 82nd Ave Portland, OR

Loan Amount: $1,100,000

Scenario – Our clients had plenty of cash for the down payment and were able to purchase the property from a distressed seller at a great price. The only problem was that one of the tenants in the building was a licensed Cannabis retailer which kept the building from being conventionally financeable. NWPL loaned 60% of the purchase price and included 1-year of pre-paid interest so that the new owners could use their cash to renovate the building. Once the property is fully leased up with appropriate business they can refinance with an SBA loan.

RV Storage Facility

Location: Eagle Creek RV 23000 Eagle Creek Rd, Eagle Creek, OR

Loan Amount: $850,000

Scenario – The owner has run a successful RV storage and industrial storage business for years.  They wanted to invest in covered storage which greatly increased their profit.  They needed the financing to pay of the existing mortgage and build 60 covered RV spaces.  Based on the value of the property, NWPL was able to lend all the money they needed and the client was able to refinance with a long-term / low rate SBA loan when they completed

Office Building

Location: 3939 Lake Grove Ave, Lake Oswego, OR

Loan Amount: 1,400,000

Scenario – Our client owns a lot of commercial real estate and wanted to purchase a new property that had to close quickly.  They have owned this office space for years and have a great long-term tenant.  We were able to give them all the cash they needed for their next purchase by using the equity in this building…and we did it in less than 10 days.