Comments on: Ladd Tower deal coming soon /news/2010/09/02/ladd-tower-deal-coming-soon-2/ Building and Construction News in Portland, Oregon and the Pacific Northwest Mon, 12 Dec 2011 18:00:30 +0000 hourly 1 https://wordpress.org/?v=6.6.6 By: Old Town /news/2010/09/02/ladd-tower-deal-coming-soon-2/#comment-99747 Fri, 03 Sep 2010 18:14:02 +0000 /?p=58782#comment-99747 It is interesting to see a project have an assessor’s real market value of $51 mil (portlandmaps.com) while arguably the fair market (willing seller & buyer) value is $84 mil. If $84 mil is the purchase price it seems that Opus will fall way short of its $84 mil construction loan.

From the referenced Oregonian July 2010 article: “Only time will tell if Opus will cover its investment in the Ladd, which is likely well beyond the construction loan. Most lenders even during boom-times required developers to contribute a significant portion of their own cash into new developments. If Opus put down 20 percent of the cost, for example, the project total would easily top $100 million.”

Might be interesting to know whether this bold Opus statement became fact: “A building like this goes up for sale, there will be 50 offers.” It would appear not.

A Perspective

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