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7/15/15
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Holliday Fenoglio Fowler L.P. has arranged $42 mil in refi money for 1201 Lloyd, a 225.1k sf, Class A office building in Portland, OR. The borrower is SGSA II LLC, an affiliate of Saban Capital Group Inc.
Completed in 2002, 1201 Lloyd consists of an 11-story office tower and a five-story, 475-space parking garage. Located at 1201 NE Lloyd Blvd, along Interstate 84, the property is within walking distance to numerous sports, retail and entertainment destinations including the Moda Center, the Oregon Convention Center, Holladay Park and Lloyd Center Mall. Public transportation is available via three Max (light-rail) lines, two of which are immediately outside of the building’s entrance, a TriMet bus stop and a Portland Street car stop.
HFF’s associate director Erica Christensen and senior managing director Paul Brindley arranged the loan, which was funded by a life company lender.
“Projects such as Hassalo on Eighth, the Lloyd Center Mall renovation and the newly remodeled Hotel Eastlund are bringing new residents and amenities to the Lloyd District,” Christensen said. “1201 Lloyd and other Class A office assets in that submarket, which are already enjoying a market vacancy hovering around five percent, stand to benefit further from the neighborhood’s revitalization.”
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