American Bank Building in Portland Trades for $53M

by Nellie Day

PORTLAND, ORE. — ScanlanKemperBard Cos. (SKB) has sold the historic American Bank Building in Portland’s central business district for $53 million. The 15-story creative office building is located at 621 S.W. Morrison St.

The American Bank Building was built in 1914.The property was 61 percent leased to tenants like Wells Fargo and The Department of Justice.

HFF’s Nick Kucha represented SKB in the transaction. The firm also recapitalized the property with Lionstone Investments, arranging a four-year, floating-rate loan through CIT Bank for the new partnership. The amount of the financing was not disclosed.

You may also like