BLOCK 300 OFFICE BUILDING IN PORTLAND RECEIVES $60.8M BRIDGE LOAN

PORTLAND, ORE. — Block 300, a 362,000-square-foot office building in Portland, has received a $60.8-million bridge loan. The Class A building is located at 333 South West 1st Ave. in the Downtown area.

The building was 50 percent leased when the funds were committed. It is now 75 percent leased. Dan Rosenberg of Cohen Financial secured the financing for Kaufman Jacobs. It was provided by GE Capital Real Estate.

“The bridge financing allows us to recapitalize the property and puts us in a strong position to execute improvements and to re-tenant the property,” says Robert Saunders, Kaufman Jacobs’ CFO.