Built in 1910 – and with 196,032 noticeable, notable square feet – The Galleria Building in downtown Portland, Ore., is being refinanced. Newmark announced the $61.5 million dollar in a recent news release.
Newmark Vice Chairman Ramsey Daya, Senior Managing Director Chris Moritz, Director Travis Bailey and Senior Financial Analyst Grant Gooding helped secure the financing on behalf of sponsor Unico Properties and Partners Group, a leading global private markets firm, acting on behalf of its clients.
Also from the release:
The five-story office building was built in 1910 … . Unico Properties and Partners Group acquired the property in December 2018 and have enacted a major capital repositioning plan. … Upon completion of the major capital plan, the Galleria will offer tenants brand-new, best-in-class features including a state-of-the-art fitness center, newly renovated lobby and exquisite architectural details with an expansive window line and 13-foot ceiling heights throughout. The property is also pursuing LEED Gold, Fitwell and WiredScore certifications.
Location? Oh, The Galleria Building has location in spades. Spanning a full city block directly on the MAX transit line at SW 9th & Morrison, the Galleria is located in the West End, a vibrant and emerging downtown neighborhood that has been the epicenter for new development in the urban core.