Home News InPoint Commercial Real Estate Income Originates $5.6 Million Mortgage Loan

InPoint Commercial Real Estate Income Originates $5.6 Million Mortgage Loan

InPoint Commercial Real Estate Income Inc., a commercial mortgage real estate investment trust sponsored by Inland Real Estate Investment Corporation and sub-advised by a Sound Point Capital Management LP affiliate, has originated a loan for a 62-unit multifamily property located in the Portland suburb of Beaverton, Oregon.

InPoint Commercial Real Estate Income Inc., a commercial mortgage real estate investment trust sponsored by Inland Real Estate Investment Corporation and sub-advised by an affiliate of Sound Point Capital Management LP, has originated a loan for a 62-unit multifamily property located in the Portland suburb of Beaverton, Oregon. The loan is comprised of a $5.6 million initial funding for the acquisition of the property and a potential future funding of $2.1 million for a total loan amount of $7.7 million.

The initial funding of $5.6 million represents 72.5 percent of the property’s appraised value. The company noted that this is property owner’s ninth acquisition in the greater Portland market where they have successfully increased cash flows across their existing multifamily portfolio.

“This multifamily property is well positioned in a high performing market with strong demographics and abundant public transportation options,” said Don MacKinnon, president of InPoint Commercial Real Estate Income. “Well-known employers such as Nike, Intel and numerous healthcare providers are also strong economic drivers for Beaverton.”

InPoint Commercial Real Estate Income seeks to originate, acquire and manage a diversified credit portfolio secured by commercial real estate properties primarily within the United States. The REIT launched its private offering in October 2016 and raised approximately $62.5 million in investor equity, as of March 14, 2018. As of the fourth quarter of 2017, the company’s investment portfolio consisted of $32.1 million in commercial mortgage loans held for investment and $26 million in commercial mortgage backed securities.

Click here to visit The DI Wire directory page.

Print Friendly, PDF & Email