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May 21, 2018
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ScanlanKemperBard Companies Recapitalizes Historic Office Building in Portland


ScanlanKemperBard Companies (SKB) recently completed a $53 mil disposition and recapitalization of the American Bank Building, a historic office building in Portlandís central business district. The transaction, which was arranged by HFF, included $41.7 mil in financing for the new partnership.

Originally built in 1914, the American Bank Building is a 15-story, historic creative office building at 621 SW Morrison St. Prominent tenants at the 61%-leased building include Wells Fargo and The Department of Justice.

Boasting a Walk, Transit and Bikeģ Score of 99, 96 and 96 respectively, the property fronts the CBDís core transit mall, Pioneer Square, and offers connectivity to all four MAX light rail lines and numerous bus stops at its front door. Additionally, streetcar service is only three blocks from the property.

An HFF team, led by Nick Kucha, recapitalized the property with Lionstone Investments and arranged a four-year, floating-rate loan through CIT Bank for the new partnership. HFFís Tom Wilson and Colby Mueck handled the debt placement.

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