PORTLAND, ORE. — ScanlanKemperBard Cos. (SKB) has received $19.1 million in financing for the acquisition of Mason Ehrman Building, an office building in Portland’s Old Town District.
JLL Capital Markets secured the four-year, floating-rate loan through a debt fund for SKB Cos. In addition to the acquisition, loan proceeds will be used to transform the annex roof into tenant amenity space and assist in lease-up of the building.
Zachary Kersten and Tom Wilson of JLL Capital markets represented the borrower in the financing.
Located at 222 NW Fifth Ave., Mason Ehrman Building totals 96,985 square feet. The property was originally built in 1907 and most recently renovated in 2017. At the time of sale, the building was 38 percent leased to two tenants.