PCCP, LLC has provided Pahlisch Commercial a $51 million senior loan for the ground-up construction of Henley Place, a 178-unit multifamily community in Milwaukie, OR. Completion of the asset is expected in early 2024.

“Pahlisch Commercial is an experienced Pacific Northwest real estate development company,” said PCCP’s Senior VP Matthew Cochran. “We are pleased to provide financing on this Class A multifamily project in Milwaukie, an accessible and affordable suburban submarket of Portland.”

Henley Place is situated on a 1.9-acre site and will have many amenities including indoor and outdoor lounges, a fitness studio, bike parking and a library. Unit interiors will focus on wellness, and feature vinyl plank flooring, quartz countertops, wood cabinets and stainless steel appliances. In addition, the property is proximate to Highway 224 and a light rail station, both of which provide easy access to downtown Portland.