SKB Companies receives $19.15M loan for Mason Ehrman Building

PORTLAND, Ore., October 6, 2020 – JLL Capital Markets announced today that it has arranged acquisition financing in the amount of $19.15 million for the Mason Ehrman Building, a seven-story, office building totaling 96,985 square feet, in Portland, Oregon.

JLL worked on behalf of the borrower, ScanlanKemperBard Companies (SKB), to secure the four-year, floating-rate loan through a prominent debt fund. 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.

Located at 222 NW 5^th Avenue, the Mason Ehrman Building is positioned in Portland’s Central Business District - easily accessible to numerous restaurants, retail and entertainment amenities and public transit. The historic property was originally built in 1907 and was most recently renovated in 2017. The building is currently 38% leased to two tenants.

SKB President Todd Gooding spoke about the acquisition, "We are grateful that the seller worked with us during these uncertain times. With the recent seismic upgrade, this property in the Old Town District of Portland is arguably the best example of a redeveloped brick and timber building in all of Portland, which we are pleased to add to our growing portfolio."

The JLL Capital Markets team representing the borrower was led by Director Zachary Kersten and Senior Managing Director Tom Wilson.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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