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CBRE Arranges Sale, Financing for Historic PDX Portfolio
NBP Capital, LLC purchased a three-building office portfolio in Portland, OR from San Francisco-based Swift Real Estate Partners for $19 million.
The portfolio comprises:
– the Merchant Hotel, four-story, 56,731-square-foot creative office building originally built in 1888 and located at 222 NW Davis St. that was renovated in 2017
– Captain Couch, a two-story, 17,742-square-foot creative office building originally built in 1912 and located at 24-32 NW 2nd Ave.
– Norton House, a two-story, 13,626-square-foot creative office building originally built in 1875 and located at 31-53 NW 1st Ave.
CBRE’s Charles Safley and Trevor Kafoury represented both buyer and seller. CBRE’s Nick Santangelo, Brad Zampa, Michael Walker and Megan Woodring secured the $17.5 million acquisition bridge financing utilizing 70% LTC floating rate debt.
It is the second phase of Swift’s Old Town Portland disposition, that included the New Market Theater and Blagen Block, which NBP purchased for $32.2 million in September.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
