A joint venture between Lionstone Investments and ScanlanKemperBard has secured the financing through CIBC for the American Bank Building in Portland, a 15-story, creative office property totaling 170,382 square feet.
Funds will be used to complete tenant and capital improvements, including increasing the square footage to 175,956 square feet and stabilizing the asset.
“The American Bank Building is one of Portland’s treasured assets and, through a carefully planned improvement program, is well positioned to continue to provide tenants with a safe and healthy work environment,” said Frank Ortiz, Head of Asset Management at Lionstone Investments. “Portland is one of the most diversified economies in the U.S. and is less vulnerable to the work-from-home disruption compared to other cities,” Wilson added. “This, paired with the continued technology industry migration from high-cost cities, bodes well for tenant demand and the overall long-term performance of t
