KBS Capital Advisors Acquires Commonwealth Building in Portland for $69M

PORTLAND, ORE. — KBS Capital Advisors has purchased the Commonwealth Building, a 216,099-square-foot, creative-tech office tower in Portland, for $69 million. The building is located at 421 S.W. 6th Ave.

The space was originally built in 1948. The Commonwealth Building was renovated between 2013 and 2015 when the mid-century building was converted into a creative-tech office tower.

HFF secured a $47.4 million, five-year, floating-rate acquisition loan through an insurance company for the buyer. The firm also assisted the seller, Unico Properties LLC, in this transaction.