Monday, March 6, 2017

HFF arranges $98.5 million in financing for Pacwest Center in Portland’s central business district


Pacwest Center, 1211 SW 5th Avenue, Portland, OR

 PORTLAND, OR,  March 6, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $98.5 million in financing for Pacwest Center, an iconic, 30-story, 525,000-square-foot office tower in Portland, Oregon.

HFF worked on behalf of the borrower, LPC Realty Advisors I, LP, on behalf of a pension fund client, to secure the five-year, fixed-rate acquisition loan through a national insurance company.

Erica Christensen
 Additionally, HFF handled the $170 million sale of the property on behalf of the seller, The Ashforth Company and an institutional investor.  This represented the largest commercial office transaction in Portland in 2016.

Pacwest Center is located at 1211 SW 5th Avenue at the epicenter of Portland’s 57-block Transit Mall in the city’s central business district.  The immediate area surrounding the property has more than one million square feet of development currently underway, including Broadway Tower and 1320 Broadway. 

Tom Wilson
With a Walk Score® of 99, a Transit Score® of 96 and a Bike Score® of 92, the asset is a true transit-oriented property.  Pacwest Center features parking for 413 vehicles through valet and self-parking and is an Energy Star-rated building. 

The new buyer intends to significantly renovate the tower by modernizing the common spaces, the main lobby and shared amenities.  PacWest Center is 76 percent leased to tenants, including Merrill Lynch, Markowitz Herbold, Schwabe, Key Bank of Oregon and Perkins & Company. 

HFF’s debt placement team representing the borrower was led by senior managing director Tom Wilson and associate director Erica Christensen.

 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |


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