JV Acquires 110 KSF Portland Office Building

KBS Realty Advisors and True North Management Group purchased a 109,725-square-foot asset in downtown Portland, Ore. CBRE arranged a $26.8 million, three-year term acquisition loan.

After selling The Citadel in Denver earlier this year, KBS Realty Advisors teamed up with True North Management Group to acquire Sixth at Yamhill, a 109,725-square-foot office building in downtown Portland, Ore. Swift Real Estate Partners sold the 11-story asset for $29.4 million. The transaction was subject to a $26.8 million bridge loan arranged by CBRE. At the time of sale, the building was 30 percent occupied.

Located at 811 S.W. Sixth Ave., in the retail core and adjacent to Portland’s Technology Triangle, the property offers convenient access to and from Stadium Freeway and Interstate 5. Additionally, the asset is within walking distance of multiple bus stations, restaurants and hotels, including Hilton Portland Downtown, Ruth’s Chris Steak House and Veggie Grill. According to Yardi Matrix data, Swift acquired the property in 2014 for $21.1 million from JB Matteson…

JV Acquires 110 KSF Portland Office Building


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