ARA, Unico Acquire Congress Center Office Tower in Portland

PORTLAND, ORE. — A joint venture between American Realty Advisors (ARA) and Unico Properties LLC has purchased the 23-story Congress Center in Portland for an undisclosed sum. The office tower is located at 1001 S.W. 5th Ave.

Congress Center was built in 1980. The JV plans to upgrade the lobby, fitness center and bike parking. It will also add amenities like an outdoor deck to encourage creativity and collaboration among tenants.

HFF’s Nick Kucha and Michael Leggett represented the seller. The firm’s Tom Wilson and Erica Christensen assisted the JV in securing a floating-rate acquisition loan through RBC Capital Markets.

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