Deka Group Enters Portland with $48m buy

Deka Immobilien, the real estate investment division of Deka Group, has acquired 6Y, an 11-story creative office building in Portland, Ore.

The seller is a venture of KBS and True North Management Group.

The 116,244-square-foot asset is located at 811 S.W. Sixth Ave. and was renovated in 2018.

“This well-located, multi-tenant urban office asset received strong interest from a wide range of buyers,” said Newmark Knight Frank Vice Chairman Nick Kucha. “Given the asset’s high-quality, irreplaceable location, tenant buildouts, stable in-place cash flow, and recent leasing velocity, the bidding environment was highly competitive.”

6Y sits at the heart of downtown, with a highly coveted location directly on Pioneer Square, which is affectionately known as Portland's "Living Room" and hosts year-round food trucks and more than 300 programmed event days each year. 6Y also offers tenants easy access to all five of the city's MAX light-rail lines, all thr