Libertas Cos. Receives $41.4M Loan to Acquire Harrison Square Office Building in Portland

PORTLAND, ORE. — Portland-based Libertas Cos. has received $41.4 million in financing for the purchase of Harrison Square, an office building in Portland’s South Central Business District. The company used loan proceeds to acquire the building and provide a portion of future leasing costs.

Located at 1800 SW First Ave., Harrison Square features 187,000 square feet of office space and a 265-space below-grade parking garage. Renovated in 2019, the property consists of two six-story buildings connected on each level via a sky bridge. At the time of sale, the property was 93 percent leased.

Zachary Kersten and Casey Davidson of JLL Capital Markets secured the six-year, floating-rate loan with a national money-center bank for the borrower.