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| Erica Christensen |
PORTLAND, OR - May 18, 2015 – Holliday Fenoglio Fowler, L.P.
(HFF) announced today that it has secured $60 million in financing for KOIN Center, a 352,023-square-foot,
Class A office tower in downtown Portland, Oregon.
 |
| Tom Wilson |
Working on behalf of the borrower, ScanlanKemperBard
Companies, HFF placed the five-year, floating-rate loan with CIBC World
Markets.
The loan, which finances the recent all cash acquisition of
the property, is structured with an initial funding of $50 million and future
advances of $10 million.
The future advances are intended to fund major
renovations of the lobby and common areas as part of the repositioning of KOIN
Center.
KOIN Center is an iconic 34-story building with Class A
office space on the first 19 floors and 44 high-end residential condominiums on
floors 20 through 33 (not part of the financing).
Building amenities
include a 247-space underground parking garage, exercise facility with showers,
business conference center and a deli/sundries shop.
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| KOIN Center, 225 SW Columbia Downtown Portland, OR |
The property is located at 222 SW Columbia and has easy access to Interstates 5 and 405, the Green Max light rail line station and the Portland bus mall.
The property is situated in the southern corner of
Portland’s central business district, which will soon see a new Orange line as
well as numerous planned developments including the Hilton Curio Collection
hotel project and the Phil Knight Cancer Research Institute.
The HFF debt placement team was led by managing director Tom Wilson and associate director Erica Christensen.
For a complete copy
of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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