HFF advises SKB on $65M disposition and recapitalization of CH2M Center in Portland and arranges $44.25M in financing for new partnership
PORTLAND, OR – December 12, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has advised ScanlanKemperBard Companies (SKB) on the $65 million disposition and recapitalization of CH2M Center, a 226,815-square-foot, Class A office tower in Portland’s South End Innovation District. Additionally, HFF worked on behalf of the new partnership to secure $44.25 million in financing.
Working on behalf of SKB, HFF recapitalized the property with funds managed by Oaktree Capital Management, L.P., and arranged a 10-year, fixed-rate loan through Wells Fargo for the new partnership.
Renovated in 2016, CH2M Center is a 10-story office tower with a 228-stall parking garage that offers a mix of traditional and creative office space with sweeping views of downtown Portland. The asset is 87 percent leased to nine tenants, including anchor tenant CH2M Hill, Konica Minolta, Zidell and the City of Portland. Situated at 2020 SW Fourth Avenue, CH2M Center serves as the keystone of the South End Innovation District – bridging Oregon Health & Science University, Portland State University and the South Waterfront. Its location at the Lincoln St/SW 3rd Avenue MAX station provides it with unparalleled connectivity to the greater Portland region. CH2M Center has a WalkScore® of 93, a Bike Score® of 93 and a Transit Score® of 88.
The HFF investment advisory team advising on the disposition and recapitalization included director Logan Greer, senior managing directors Gerry Rohm and Michael Leggett, director Dave Otis and analyst Jeff Hodson.
HFF’s debt placement team included senior managing directors Tom Wilson and Paul Brindley.
Leasing advisory was provided by Josh Schweitz and Travis Parrott of Kidder Matthews.
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 Oaktree Capital Management
Oaktree is a leader among global investment managers specializing in alternative investments, with $100 billion in assets under management as of September 30, 2017. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, the firm has over 900 employees and offices in 18 cities worldwide. For additional information, please visit Oaktree’s website at oaktreecapital.com.
HFF and its affiliates operate out of 25 offices and are 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 advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.