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| Nick Kucha |
PORTLAND, OR – HFF announced it has closed the $21.1 million
sale of the Executive Building, an 11-story, Class A office building
totaling 104,630 square feet in downtown Portland.
HFF
marketed the property on behalf of the seller, The Matteson Companies. Swift Realty Partners purchased the asset
for $21.1 million contingent to existing debt.
The Executive Building is situated on 0.23 acres at 811 SW
6th Avenue at the intersection of Portland’s main MAX light rail lines and near
Interstates 5 and 84 and Highway 26.
The property is also near amenities such as the Pioneer
Place Shopping Center, The Nines Hotel and several other dining, retail and
entertainment venues.
The property is
91.4 percent leased to three tenants, including J.P. Morgan Chase and the State
of Oregon Department of Environmental Quality (DEQ).
The HFF team was led by director Nick Kucha and
senior managing director and co-head of HFF’s national office investment sales
platform Michael Leggett.
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| Michael Leggett |
The Matteson Companies are a group of affiliated entities
engaged in real estate investment and management, headquartered on the San
Francisco Peninsula with operations in diverse western U.S. markets.
The companies' capabilities include property
acquisitions, value-added asset management, high quality property management
and construction management for renovations and capital projects in the managed
portfolio.
With a regional asset and
property management team, The Matteson Companies manage an extensive portfolio of
properties throughout the West that includes multifamily, office, retail and
mixed-use property types. The
properties are located throughout the western U.S., California, Arizona, Oregon
and Washington.
Swift Real Estate Partners is an independent and vertically
integrated real estate investment firm which seeks to generate attractive
risk-adjusted returns for its investors. Learn
more at www.swiftrp.com.
For a complete
copy of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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