Wednesday, November 21, 2012

NBS Financial's Harding Arranges $7.5M for Portland Owner-Occupied Industrial Building

NBS Financial Services Senior Vice President Todd Harding has arranged $7.5 million for the Morgan Distributing, Inc. Building, a 104,800 sf owner-occupied industrial building in Northeast Portland.

The building was constructed in 2010 at 18300 NE Portal Way to replace Morgan's previous facility in Oregon City, Harding said, and is very modern with a 32-foot clear height. The fixed-rate, fully-amortizing, 17-year non-recourse loan was provided by State Farm.

NBS Financial has an exclusive relationship with State Farm, and has closed over $130 million in loans with the life insurance company in the past five years.

Morgan Distributing is a 53-year old local, family-owned company. It has long been the Portland area's distributor of Anheuser Busch products, as well as many Oregon craft breweries and other alcoholic and non-alcoholic beverage brands.

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