HFF advises SKB on $53 million disposition and recapitalization of American Bank Building in Portland and arranges $41.7 million in financing for new partnership
PORTLAND, OR – April 5, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has advised ScanlanKemperBard Companies (SKB) on the $53 million disposition and recapitalization of the American Bank Building, a historic office building in Portland’s central business district. Additionally, HFF worked on behalf of the new partnership to secure $41.7 million in financing.
Working on behalf of SKB, HFF recapitalized the property with Lionstone Investments and arranged a four-year, floating-rate loan through CIT Bank for the new partnership.
Originally built in 1914, the American Bank Building is a 15-story historic creative office building at 621 SW Morrison Street. Prominent tenants at the 61.1-percent-leased building include Wells Fargo and The Department of Justice. Boasting a Walk, Transit and Bike® Score of 99, 96 and 96 respectively, the property fronts the CBD’s 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.
The HFF investment sales team advising on the disposition and recapitalization was led by senior managing director Nick Kucha.
HFF’s debt placement team was led by senior managing director Tom Wilson and managing director Colby Mueck.
About ScanlanKemperBard Companies
ScanlanKemperBard Companies is a real estate merchant banking firm that acquires, develops and manages “value-add” and opportunistic office, retail, industrial, mixed-use and hotel properties in the Western United States. The firm partners with institutions, family offices and high net worth individuals. Founded in 1993, SKB has completed $3.87 billion in activity including 25.1 million square feet.
About Lionstone Investments
Lionstone Investments is a data-analytics driven real estate investment firm that specializes in conceptualizing, analyzing, and executing national investment strategies on behalf of institutional investors and high net worth individuals. Lionstone’s objective is to identify and execute smart investments by understanding the evolution of internationally competitive cities, then pinpointing where the most productive people in America want to live and work—Places for Productive People.® Since its founding in 2001, Lionstone has consistently generated cycle-tested real estate investment performance that has exceed peer and industry benchmarks. Lionstone’s investment DNA was, and continues to be, data-driven, and is its greatest point of differentiation from other firms. Using proprietary research tools and algorithms, a highly-skilled staff, and deeply-experienced leadership, Lionstone sources unique investment opportunities and effectively executes them nationwide. Please visit our website at: lionstoneinvestments.com
Holliday Fenoglio Fowler, L.P. (“HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices and is a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.