Friday, May 28, 2021

Luxury Portland Condo and Hotel Project

Portland, Oregon, business executive Barclay Grayson of BPM Real Estate Group, seeks out development and acquisition opportunities that strengthen its diversified portfolio. One of Barclay Grayson’s high-profile projects currently under construction is Block 216, a 35-story structure in downtown Portland at Southwest Alder Street and Southwest 10th Avenue.

The development will house 138 condos, office space, and 11 floors dedicated to a Ritz-Carlton, the lattermost of which could mark the city’s first-ever five-star luxury hotel. Those involved with the project suggested that this might attract Portland visitors with an interest in more lavish hotel accommodations and Silicon Valley executives who take corporate jets to and out of Portland to avoid overnight stays. Additionally, the Ritz-Carlton brand’s popularity overseas presents an opportunity for enticing new visitors to the city.

Guests rooms at the Marriott-owned Ritz-Carlton will feature sweeping views of Downtown Portland. Planned amenities include spas, lounges, a yoga studio, a fitness center, and hot tub, as well as a lobby bar and two restaurants. With an opening set for 2023, the hotel will be positioned to benefit from renewed travel and hotel demand should expectations for that year as a post-pandemic period realize.

Tuesday, April 27, 2021

EB-5 Program & Real Estate Development

Based in Portland, Oregon, Barclay Grayson serves as senior vice president of BPM Real Estate Group. In this role, Barclay Grayson acquires and develops real estate in Portland while seeking out opportunities for funding, such as Opportunity Zone and EB-5 sources. The EB-5 program allows foreign investors to secure permanent residency by investing a certain amount of money in a commercial enterprise that results in the creation of at least 10 full-time jobs. Because construction jobs count, EB-5 has become a significant funding option for real estate developers.

Unfortunately, however, some developers feel that EB-5 is a quick way to get funding when compared to other lending sources, but the money can actually be quite slow in coming. Counting on using EB-5 funds at the beginning of a project often makes bridge financing necessary, as the EB-5 funding needs to be consolidated and processed before it is disbursed, and this can take time. In the past, this funding has been used with a five-year investment timeline, but this depends on the country providing the money. The Vietnamese timeline is more like seven years, and Chinese investments can take up to 15 years.

A more efficient way of using EB-5 money is by refinancing large construction loans. With this strategy, the developer’s equity gets replaced by cheaper EB-5 funding, and the overall cost of capital can drop by up to 7 percent.

Friday, September 18, 2020

Published: Eligibility Criteria for Opportunity Zones

I published “Eligibility Criteria for Opportunity Zones” on @Medium

Thursday, September 10, 2020

Tuesday, September 1, 2020

Published: Portland’s Broadway Tower Earns LEED Gold

I published “Portland’s Broadway Tower Earns LEED Gold” on @Medium

Wednesday, August 26, 2020

Published: A Look at the Dress Code and Traditions at the Polo Noir

I published “A Look at the Dress Code and Traditions at the Polo Noir” on @Medium

Saturday, July 25, 2020

Published: cFunding Helps Build American Businesses

I published “cFunding Helps Build American Businesses” on @Medium