EBSC Lending Closes $18.8 Million Value-Add Loan for 146-Unit Apartment Community in Fairview, Oregon

FAIRVIEW, Ore., March 29, 2026 - EBSC Lending is pleased to announce the closing of an $18.8 million value-add loan for a 146-unit apartment complex in Fairview, Oregon.

The financing was structured for a borrower facing a compressed timeline after construction delays created an imminent maturity default under the existing debt. To prevent the borrower from falling into maturity default, EBSC Lending acquired the existing loan and modified its terms while finalizing the structure of the new financing. This approach provided immediate relief and created the time needed to close the full value-add loan.

Loan proceeds will provide the capital necessary to complete the property’s renovation plan and allow sufficient time to lease up the asset and stabilize cash flow.

Loan Amount: $18,800,000

Financing Type: Value-Add Multifamily Loan

Property Type: Apartment Community

Project Size: 146 Units

Location: Fairview, Ore.

Rate: 9.97%

Term: 36-month initial term, with two six-month extension options

“When construction delays put pressure on our timeline and existing debt maturity, we needed a lender that could move quickly and stay solution-oriented,” said Ryan Cohen, sponsor of the project. “EBSC Lending understood the complexity of the situation, stepped in decisively, and provided a structure that gave us the time and capital needed to complete renovations, execute our lease-up strategy, and position the property for stabilization.”

“This was a time-sensitive transaction that required speed, structure, and certainty of execution,” said Martin Alex of EBSC Lending. “The borrower needed a lender that could move decisively under a tight deadline while also providing the capital necessary to complete the renovation program and create a path toward stabilization. Closing this loan as Portland multifamily enters 2026 with a materially lighter supply pipeline was especially meaningful, as that backdrop is constructive for transitional assets that still require renovation completion, lease-up time, and disciplined operating execution.” Northmarq reported in March 2026 that Portland had roughly 2,300 units underway, while an earlier January 2026 market update put vacancy at 4.9% in late 2025, reinforcing the view that supply conditions have been improving.

“We frequently see the same high-profile U.S. opportunity referred to us by multiple brokers,” said David Palmer of EBSC Lending. “More often than not, that signals a challenging transaction, and those are exactly the kinds of deals we are built to execute.”

That timing matters. Portland multifamily entered 2026 with roughly 2,300 units underway and a 5.2% vacancy rate, according to Northmarq, indicating that the supply wave that pressured operations in recent periods is beginning to ease. For transitional assets like this one, that environment can create a more practical window to finish renovations, preserve leasing momentum, and work toward stabilized performance.

EBSC Lending is a nationwide private lender providing customized financing solutions for real estate investors and developers. The firm offers asset-based lending for real estate projects across all 50 states, with loan amounts from $10 million to $100 million. EBSC Lending is known for its speed, creativity, and disciplined execution across a broad range of property types and use cases.

EBSC Lending

949-229-6155

info@ebsc-llc.com

www.ebsc-llc.com