July 10, 2019 – JLL announces that it has arranged $13.3 million in financing for the acquisition of Leftbank, a 60,209-square-foot, adaptive reuse, creative office project in Portland’s Lloyd District.
JLL worked on behalf of the borrower, ScanlanKemperBard (SKB), to place the three-year, floating-rate bridge loan with two one-year extension option with a debt fund.
The Leftbank property has a total of 60,209 rentable square-feet and consists of a four-story building, adjacent parking lot and vacant developable parcel of land. With its exposed wood ceilings and beams, original masonry walls and panoramic views of the west side of Portland, the four-story building provides an engaging space that has become ideal and sought after for creative and tech tenants. In addition to its architectural appeal, the property is conveniently located adjacent to a Portland Streetcar stop and a short walk to four MAX light rail lines, and is only two blocks from Portland’s Moda Center, home of the Portland Trail Blazers.
The JLL Capital Markets team representing the borrower included senior managing director Tom Wilson and director Zachary Kersten.
“We are excited to acquire another asset in Portland’s thriving Eastside market,” said Justin La Tempa, SKB vice president of acquisitions. “Leftbank’s central proximity and its adjacency to public transportation and Portland’s largest event venues makes for an advantageous opportunity.”