Bay Point Advisors Closes $12.5M Acquisition Loan for Riverfront Redevelopment Site in Vancouver, Washington
November 23, 2021
ATLANTA–(BUSINESS WIRE)–Bay Point Advisors, LLC has provided a $12.5 million loan to Renaissance Boardwalk Ventures, LLC for the acquisition of five parcels located at 101-111 SE Columbia Way in Vancouver, Washington. The 2.4 acre site borders Interstate 5 and the Columbia River, directly across from Portland, OR, and has one existing tenant, Who Song & Larry’s Restaurant and Cantina. The property had been under contract since 2018 and was purchased for $14.55 million.
The sponsor, Kirkland Development, owned by Dean & Kristin Kirkland, has submitted plans to the city for a four-building, mixed-use development, including an eight-story, 205,000 sf apartment complex and 122,000 sf of retail. There will be an underground garage with 400-500 parking spots, the buildings will be LEED Gold certified, and Kirkland will repair and widen a dilapidated boardwalk connecting the site to the Lewis & Clark trail. “The site on the east side of the bridge is the first thing you see when you enter Vancouver from the south. It’s an iconic spot,” Dean Kirkland said.
Contact
Bay Point Advisors
Mitchell Dagley
(404) 542-2945
moc.srosivdatniopyab@yelgadllehctim
About Kirkland Development
Dean and Kristin Kirkland established Kirkland Development in 2003. They founded the company with the guiding principles of providing quality without compromise. To date, Kirkland has successfully developed more than 80 projects vauled at $1 billion. Kirkland has a diverse portfolio of developing multi-family, hospitality, commercial and light industrial. Kirkland Development prides themselves on being a family-owned business that has a strong balance of excellence with regard to integrity, professionalism, dedication and ambition.
About Bay Point Advisors
Established in 2012, Bay Point Advisors LLC is a privately held firm based in Atlanta, Georgia specializing in customized, secured lending solutions across real estate and other industries, including entertainment, aviation, and natural resources. Since its inception, Bay Point Advisors has originated over $1 billion of privately negotiated loans.
