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7/12/19
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ScanlanKemperBard (SKB) bought Leftbank, a 60.2k sf, adaptive reuse, creative office project at 240 N. Broadway in Portland’s Lloyd District. The purchase was financed with a $13.3 mil acquisition loan.
The Leftbank property consists of a four-story building, adjacent parking lot and vacant developable parcel of land. It was originally built by Portland architect A.E. Doyle in 1923.
With its exposed wood ceilings and beams, original masonry walls and panoramic views of the west side of Portland, the building provides an engaging space that has become ideal and sought after for creative and tech tenants. In addition to its architectural appeal, the property is conveniently located adjacent to a Portland Streetcar stop and a short walk to four MAX light rail lines, and is only two blocks from Portland’s Moda Center, home of the Portland Trail Blazers.
Tom Wilson and Zachary Kersten with JLL Capital Markets team arranged the three-year, floating-rate bridge loan. It features two one-year extension options with a debt fund.
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