Bay Point Advisors closes $ 12.5 million acquisition loan for the riverside redevelopment area in Vancouver, Washington

ATLANTA–(BUSINESS WIRE) – Bay Point Advisors, LLC has granted Renaissance Boardwalk Ventures, LLC a $ 12.5 million loan to purchase five lots at 101-111 SE Columbia Way in Vancouver, Washington. The 1.5-acre site is adjacent to Interstate 5 and the Columbia River, directly across from Portland, OR, and has an existing tenant, Who Song & Larry’s Restaurant and Cantina. The property has been under contract since 2018 and was acquired for $ 14.55 million.

Sponsor Kirkland Development, owned by Dean & Kristin Kirkland, has presented plans to the city for a four-building, mixed-use development, including an eight-story residential complex with 205,000 square feet and 122,000 square feet of retail space. There will be an underground car park with 400-500 parking spaces, the buildings will be LEED Gold certified and Kirkland will repair and expand a dilapidated boardwalk that connects the site to the Lewis & Clark Trail. “The area on the east side of the bridge is the first thing you see when entering Vancouver from the south. It’s an iconic place, ”said Dean Kirkland.

“We are excited to see this project get underway,” said Mitchell Dagley of Bay Point Advisors. “Vancouver is a fast growing city and Kirkland has identified a highly visible location. We are confident that the development will be a success, given their track record in the community.

About Bay Point Advisors

Founded in 2012, Bay Point Advisors LLC is a privately held company based in Atlanta, Georgia that specializes in customized, secure loan solutions for real estate and other industries including entertainment, aviation and natural resources. Since its inception, Bay Point Advisors has provided over $ 1 billion in privately negotiated loans. More information is available at www.baypointadvisors.com.

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