PORTLAND, OR – November 16, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $94.35 million sale and arranged $42.4 million in financing for Park Square Campus, a 295,767-square-foot, two-building creative office campus that anchors Portland’s South CBD.
HFF marketed the property on behalf of New York-based Clarion Partners, LLC, acting as an advisor to a separate account client. A separate account client advised by CBRE Global Investors purchased the asset and was assisted by HFF in securing a fixed-rate acquisition loan through Deutsche Bank.
Originally built in 1969 and 1983, Park Square Campus’ two mid-rise towers were converted in 2015 into creative office buildings that integrate indoor and outdoor amenity space for work and play. Property amenities include the communal Great Room, an abundance of natural light, outdoor dining spaces with fire pits, showers, lockers and bicycle storage. Situated on 1.75 acres at 100 SW Market in downtown Portland, Park Square Campus boasts a Walk Score© of 94, a Bike Score© of 91 and a Transit Score© of 94. Additionally, the 97.5-percent-leased property has been awarded an Energy Star rating of 100.
The HFF investment sales team representing the sellers was led by senior managing directors Nick Kucha and Michael Leggett.
HFF’s debt placement team was led by managing director Casey Davidson.
About Clarion Partners
Clarion Partners, an SEC-registered investment adviser, FCA authorized manager and FINRA member firm, has been a leading U.S. real estate investment manager for more than 34 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles, São Paulo, Seattle and Washington, D.C. With more than $42 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors. More information about the firm is available at clarionpartners.com.
About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $87.9 billion in assets under management* as of September 30, 2016. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment firm for the benefit of its investors. CBRE Group, Inc. has more than 70,000 employees in more than 400 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.